This compound is primarily used in organic synthesis as a boron-containing reagent, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its stability and reactivity make it suitable for forming carbon-carbon bonds in the presence of palladium catalysts. Additionally, it is employed in the development of advanced materials, such as organic semiconductors and polymers, due to its ability to introduce boron functional groups into aromatic systems. Its application extends to the synthesis of bioactive compounds and fine chemicals, contributing to the production of drugs, dyes, and other specialty chemicals.