This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the preparation of complex molecules, often in pharmaceutical research and development. The boronic acid group enables it to participate in Suzuki-Miyaura coupling reactions, which are widely used to form carbon-carbon bonds. This makes it valuable for constructing biologically active compounds, including potential drug candidates. Its application is also seen in material science, where it contributes to the synthesis of advanced organic materials with specific electronic or structural properties.