This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating biologically active compounds, such as potential drug candidates. Additionally, it is utilized in material science for designing advanced organic materials with specific properties. Its versatility in coupling reactions makes it a crucial tool in modern synthetic chemistry.