This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable for creating biaryl compounds. Additionally, it is utilized in material science for designing advanced polymers and functional materials. Its stability and reactivity make it a preferred choice in various catalytic processes and research applications.