This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It acts as a boron-containing reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in the pharmaceutical industry for the development of drug candidates, as well as in material science for creating advanced polymers and organic electronic materials. The compound's stability and reactivity make it a valuable tool in research and industrial processes for synthesizing novel compounds with potential therapeutic or functional properties.