This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group is essential for coupling with aryl halides, making it valuable in pharmaceutical research and the development of new drugs. Additionally, it finds applications in material science, where it aids in the synthesis of advanced polymers and organic electronic materials. Its unique structure also makes it a potential candidate for use in sensing and diagnostic applications due to its ability to interact with specific biological molecules.