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 the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid functional group allows it to couple with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical research and the development of active pharmaceutical ingredients (APIs). Additionally, it is used in material science for the synthesis of advanced organic materials, including polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular frameworks.