This chemical 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 the formation of carbon-carbon bonds, enabling the creation of complex organic molecules. Its application is significant in the pharmaceutical industry, where it is used to develop bioactive compounds and drug candidates. Additionally, it finds use in material science for the synthesis of advanced materials, including polymers and organic electronics. Its boronic acid group makes it a versatile reagent for constructing heterocyclic frameworks, which are essential in various chemical and industrial processes.