This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key reagent to form carbon-carbon bonds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of advanced materials, such as polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular structures. Its stability and reactivity under mild conditions make it a preferred choice in various catalytic processes.