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, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl or vinyl halides, making it valuable for creating carbon-carbon bonds. Additionally, it is employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to introduce specific functional groups into target molecules. Its stability and reactivity make it a versatile reagent in medicinal chemistry and material science research.