This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of various pharmaceuticals and agrochemicals, enabling the formation of carbon-carbon bonds with high efficiency and selectivity. Its boronic acid group facilitates the coupling with aryl or vinyl halides, making it valuable in constructing complex molecular structures. Additionally, it finds application in material science for the development of organic electronic materials and polymers, where precise molecular assembly is crucial.