This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables it to act as a key reagent in forming carbon-carbon bonds, which is essential in the synthesis of complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, where precise and efficient bond formation is critical. Additionally, it finds use in material science for the creation of advanced polymers and functional materials. Its stability and reactivity make it a valuable tool in research and industrial applications requiring controlled chemical transformations.