This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures, which are common in many active drug ingredients. Additionally, it is employed in the development of materials for organic electronics, where precise molecular architecture is crucial for performance. Its stability and reactivity make it a valuable tool in medicinal chemistry for designing and synthesizing novel therapeutic agents.