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 reagent for forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, as it facilitates the introduction of furan and pyrazole moieties into target molecules. Additionally, it finds use in material science for the synthesis of advanced polymers and organic electronic materials, where precise molecular architecture is required. Its stability and reactivity make it a valuable tool in both academic research and industrial applications.