This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules, including pharmaceuticals and agrochemicals. It is often employed in the development of drug candidates, where its structure can be incorporated into biologically active compounds. Additionally, it serves as a building block in the synthesis of materials for electronic and optoelectronic applications due to its ability to participate in modular and efficient chemical transformations.