This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl groups. Its application is significant in the pharmaceutical industry for the development of complex molecules, including drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it is utilized in material science for the synthesis of advanced organic materials, such as polymers and ligands for catalysis. Its stability and reactivity make it a valuable tool in constructing diverse chemical structures for research and industrial purposes.