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 for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating diverse aromatic compounds. Additionally, it finds application in material science for designing advanced polymers and organic electronic materials. Its unique structure allows for precise modifications, contributing to the synthesis of specialized chemicals with tailored properties.