This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research. The boronic acid group facilitates the formation of carbon-carbon bonds, enabling the synthesis of biologically active compounds. Its application extends to the development of drugs targeting various diseases, including cancer and neurological disorders. Additionally, it is utilized in material science for creating advanced polymers and functional materials.