This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a key intermediate 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, making it valuable for creating carbon-carbon bonds. Additionally, it is employed in the development of organic electronic materials and liquid crystals due to its ability to form stable and functionalized biphenyl derivatives. Its applications also extend to medicinal chemistry, where it is used in the synthesis of bioactive molecules and drug candidates.