This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the creation of carbon-carbon bonds. This makes it valuable in the synthesis of heterocyclic compounds, which are often found in active pharmaceutical ingredients. Additionally, it is used in material science for the development of organic electronic materials due to its ability to form stable conjugated systems. Its versatility in various chemical transformations underscores its importance in both academic research and industrial applications.