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 production of complex organic molecules, especially in the pharmaceutical industry, where it is used to develop active pharmaceutical ingredients (APIs). Its boronic acid functional group enables the formation of carbon-carbon bonds, making it valuable for constructing heterocyclic compounds, which are often found in drugs targeting various diseases. Additionally, it is employed in material science for the synthesis of advanced materials, including organic electronic components. Its role in facilitating precise and efficient chemical transformations makes it a crucial reagent in modern synthetic chemistry.