This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables it to form stable bonds with various aryl or vinyl halides, facilitating the creation of biaryl structures. This makes it valuable in the development of drugs, where precise molecular architecture is crucial. Additionally, it may be employed in materials science for the synthesis of advanced polymers or organic electronic materials.