This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronic acid group enables it to form carbon-carbon bonds with aryl or vinyl halides, making it valuable in constructing complex organic molecules. It is often employed in pharmaceutical research for synthesizing drug intermediates or active pharmaceutical ingredients (APIs). Additionally, it finds applications in material science for creating conjugated polymers or organic electronic materials. Its stability and reactivity make it a versatile reagent in the development of new compounds for various industries.