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. Its boronic acid group is essential for creating complex organic molecules, making it valuable in drug discovery and development. Additionally, it finds use in material science for synthesizing advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile reagent in both academic research and industrial applications.