This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. 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 enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds. Additionally, it finds application in material science for synthesizing advanced organic materials, including polymers and electronic components. Its versatility in forming diverse chemical structures makes it a crucial reagent in research and industrial processes.