This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drugs targeting various diseases. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating biaryl structures. Additionally, it finds application in material science for designing advanced organic materials with specific electronic or optical properties. Its stability and reactivity make it a versatile reagent in research and industrial processes.