This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid functional group enables it to act as a key reagent in forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is commonly employed in the pharmaceutical industry for the development of drug candidates, especially in the synthesis of heterocyclic compounds that often serve as active pharmaceutical ingredients. Additionally, it finds application in material science for the creation of advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable tool in research and industrial processes requiring precise molecular assembly.