This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing complex molecular structures. Additionally, it is employed in the development of sensors and catalysts due to its ability to interact with various organic and inorganic molecules. Its application extends to research and development in medicinal chemistry, where it aids in the synthesis of biologically active compounds.