This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate in the preparation of complex molecules, often in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing biologically active compounds. Additionally, it is employed in the synthesis of heterocyclic compounds, which are essential in drug discovery for their potential therapeutic properties. Its stability and reactivity make it a versatile tool in medicinal chemistry and material science applications.