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, which is essential in 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 heterocyclic compounds. Additionally, it is employed in material science for the creation of advanced polymers and organic electronic materials, contributing to innovations in fields like optoelectronics and conductive materials.