This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, enabling the formation of carbon-carbon bonds. Its boronic acid group facilitates coupling with aryl or vinyl halides, making it valuable in constructing complex molecules. It is also utilized in the development of biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it finds application in material science for creating advanced organic materials with specific electronic or structural properties.