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 for constructing complex molecules, especially in pharmaceutical research. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds. This is essential in developing active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it finds application in material science for designing advanced organic materials with specific electronic or structural properties. Its versatility and reactivity make it a crucial component in modern synthetic chemistry.