This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, often used in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing heterocyclic compounds. Additionally, it finds application in material science for synthesizing advanced polymers and coordination complexes. Its stability and reactivity make it a versatile reagent in research and industrial processes.