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 derivative, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the construction of diverse molecular structures. Additionally, it is employed in material science for the preparation of advanced materials with specific electronic or structural properties. Its stability and reactivity make it a valuable reagent in various chemical transformations.