This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid functional group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the development of drugs targeting various diseases, as well as in the synthesis of advanced materials. Additionally, its structural properties allow for potential applications in the design of bioactive compounds and catalysts.