This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a valuable boron reagent, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its stability and reactivity make it suitable for constructing furan-based structures, which are often found in pharmaceuticals, agrochemicals, and materials science. Additionally, it is employed in the development of bioactive compounds and advanced materials due to its ability to introduce functional groups efficiently.