This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key building block for creating complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing heterocyclic compounds. It is also utilized in materials science for developing organic electronic materials, such as polymers and small molecules for optoelectronic devices. Additionally, it finds applications in the synthesis of ligands for catalysis and in the preparation of bioactive molecules for drug discovery.