This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of carbon-carbon bonds. This makes it valuable in producing active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it is employed in material science for designing advanced organic materials with specific properties. Its versatility and reactivity make it a crucial component in modern synthetic chemistry.