This chemical is primarily used as a reagent in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a stable boron source, facilitating the formation of carbon-carbon bonds between aryl or vinyl boronic esters and aryl or vinyl halides. Its application is crucial in the pharmaceutical industry for the synthesis of complex molecules, including drug intermediates and active pharmaceutical ingredients. Additionally, it is employed in material science for the development of organic electronic materials, such as polymers and small molecules used in OLEDs and other optoelectronic devices. Its stability and ease of handling make it a preferred choice in various research and industrial processes.