This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in pharmaceutical research and development. Its boronic acid functional group allows it to efficiently form carbon-carbon bonds with aryl or vinyl halides, making it valuable for constructing drug intermediates or active pharmaceutical ingredients (APIs). Additionally, it is utilized in the development of materials science, such as in the synthesis of organic electronic materials or polymers. Its versatility and reactivity make it a crucial reagent in modern synthetic chemistry.