This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry, where it is used to develop biologically active compounds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in drug discovery and material science. Additionally, it finds application in the synthesis of agrochemicals and advanced materials, contributing to the development of innovative products in these fields.