This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. 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 active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it is used in material science for the synthesis of advanced organic materials with specific electronic or structural properties. Its versatility and reactivity make it a crucial component in modern synthetic chemistry.