This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in many bioactive compounds. Additionally, it finds use in material science for creating organic electronic materials and polymers. Its stability and reactivity make it a valuable tool in research and industrial applications for designing novel compounds with specific properties.