This compound is primarily used 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 drug candidates. Its boronic acid group allows for efficient coupling with aryl halides, enabling the formation of carbon-carbon bonds. This makes it valuable in creating biologically active compounds, such as inhibitors or receptor modulators. Additionally, it is utilized in materials science for designing organic electronic materials or polymers with specific properties. Its versatility in coupling reactions makes it a useful tool in both academic research and industrial applications.