This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in synthesizing compounds with potential therapeutic applications, such as enzyme inhibitors or receptor modulators. Additionally, it may be used in materials science for designing advanced polymers or functional materials with specific electronic or optical properties.