This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is crucial for constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of diverse aromatic and heteroaromatic compounds. Additionally, it is employed in material science for creating advanced polymers and functional materials with specific properties. Its stability and reactivity make it a valuable tool in catalytic processes and fine chemical production.