This compound is primarily utilized 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. The boronic acid group facilitates the formation of carbon-carbon bonds, enabling the synthesis of various biologically active compounds. Its application extends to the development of drugs targeting specific diseases, including cancer and inflammation. Additionally, it is used in material science for creating advanced organic materials with tailored properties. The compound's stability and reactivity make it a valuable tool in medicinal chemistry and drug discovery processes.