This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate in the production of complex organic molecules, especially in pharmaceutical and agrochemical industries. Its boronic acid group facilitates the formation of carbon-carbon bonds, enabling the synthesis of diverse thiophene derivatives. These derivatives are often explored for their biological activities, making it valuable in drug discovery and development. Additionally, it can be utilized in material science for creating advanced polymers or electronic materials with specific properties.