Primarily used in organic synthesis, this compound serves as a versatile reagent in cross-coupling reactions, particularly in Suzuki-Miyaura coupling, enabling the formation of carbon-carbon bonds. It is valuable in the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it suitable for introducing allyl groups into various substrates, facilitating the development of polymers and fine chemicals. Additionally, it is employed in the preparation of boron-containing compounds, which are essential in medicinal chemistry and material science.