This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for the creation of complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. Additionally, it finds application in material science for the synthesis of advanced polymers and organic electronic materials, contributing to the development of innovative technologies.