This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a boronic acid reagent, 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 diverse chemical structures. Additionally, it is employed in materials science for creating advanced polymers and functional materials with tailored properties. Its stability and reactivity make it a valuable tool in catalysis and fine chemical production.