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 in the preparation of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl or vinyl halides, making it valuable for constructing carbon-carbon bonds. Additionally, it is employed in the development of bioactive compounds and materials with potential applications in medicinal chemistry and material science. Its versatility and reactivity make it a useful tool in research and industrial processes.