This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the synthesis of heterocyclic compounds, which are often found in drugs targeting various diseases. Additionally, it is used in material science for the development of organic electronic materials, including organic light-emitting diodes (OLEDs) and conductive polymers. Its versatility in forming stable intermediates makes it a crucial reagent in research and industrial applications.