This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the construction of complex molecules, especially in the pharmaceutical industry, where it is used to develop biologically active compounds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in drug discovery and development. Additionally, it may be employed in the synthesis of agrochemicals and advanced materials due to its versatility in forming diverse chemical structures.