This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid functional group enables it to act as a key intermediate in forming carbon-carbon bonds, which is essential for constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, where precise molecular architecture is crucial. Additionally, it finds use in materials science for the synthesis of advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable tool in research and industrial applications requiring tailored organic compounds.