This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the synthesis of biologically active compounds, such as those used in cancer research and other therapeutic areas. Additionally, it may be employed in material science for creating advanced polymers or organic electronic materials.