This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables efficient coupling with aryl or vinyl halides, making it valuable for creating carbon-carbon bonds. Additionally, it is employed in the development of bioactive compounds and materials with potential applications in drug discovery and advanced material science.