This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the development of drug candidates, where precise molecular structures are crucial. Additionally, it may be employed in material science for creating advanced polymers or functional materials with specific electronic or optical properties.