This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, enabling the formation of carbon-carbon bonds in complex molecules. Its boronic acid group facilitates efficient coupling with aryl halides, making it valuable in the development of drugs and bioactive compounds. Additionally, it is employed in material science for creating advanced polymers and organic electronic materials. Its structural properties also make it useful in research for designing and testing new chemical entities with potential therapeutic applications.