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 for the construction of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures. Additionally, it is employed in the development of materials for organic electronics due to its ability to modify and functionalize aromatic systems. Its stability and reactivity make it a valuable tool in medicinal chemistry for drug discovery and development.