This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the development of pharmaceuticals and agrochemicals. It is often employed in the synthesis of complex molecules, including active pharmaceutical ingredients (APIs), due to its ability to introduce specific functional groups into target structures. Additionally, it serves as a key intermediate in the production of advanced materials and fine chemicals, contributing to innovations in drug discovery and material science.