This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid derivative, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its structure allows for efficient coupling with aryl halides, making it valuable in the production of biaryl compounds. Additionally, it is employed in the development of bioactive compounds and materials science research, where precise molecular construction is essential.