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 in the production of pharmaceuticals, enabling the formation of carbon-carbon bonds to create complex molecules. Its boronic acid group is essential for coupling with aryl or vinyl halides, making it valuable in the development of drugs and bioactive compounds. Additionally, it finds use in material science for synthesizing advanced organic materials with specific electronic or structural properties. Its stability and reactivity make it a versatile tool in research and industrial applications.