This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling, where it acts as a key intermediate for constructing complex organic molecules. Its diboron structure enables the formation of carbon-carbon bonds, making it valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the synthesis of organic electronic materials, including organic light-emitting diodes (OLEDs) and semiconductors, due to its ability to introduce boron-containing moieties into aromatic systems. Its stability and reactivity under mild conditions make it a preferred choice in various research and industrial applications.