This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, often in the pharmaceutical industry, where it aids in the development of drugs and bioactive compounds. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in material science for creating advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable tool in research and industrial applications for producing fine chemicals and functional materials.