This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the construction of complex molecules, especially in the pharmaceutical industry. The boronic acid group facilitates the formation of carbon-carbon bonds, enabling the synthesis of biologically active compounds. Its application extends to the development of drugs targeting various diseases, including cancer and infectious diseases. Additionally, it is used in material science for the creation of advanced organic materials with specific electronic or optical properties. The compound's versatility makes it valuable in research and industrial processes where precise molecular assembly is required.