This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, enabling the formation of carbon-carbon bonds in complex molecules. Its boronic acid group facilitates the coupling with aryl halides, making it valuable in the development of drugs and bioactive compounds. Additionally, it is employed in the synthesis of materials for electronic devices and sensors, where precise molecular structures are required. Its stability and reactivity make it a versatile reagent in both academic research and industrial applications.