This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a crucial building block for constructing complex biphenyl structures, which are often found in pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of carbon-carbon bonds. Additionally, it is employed in the development of bioactive molecules and intermediates for drug discovery, where its biphenyl moiety contributes to the desired pharmacological properties. Its stability and reactivity make it a valuable reagent in medicinal chemistry and material science research.