This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a versatile building block for creating complex molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing heterocyclic compounds. Additionally, it is employed in material science for designing organic semiconductors and other functional materials. Its stability and reactivity make it a useful reagent in various research and industrial applications.