This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a key intermediate in the production of complex molecules, especially in pharmaceuticals and agrochemicals. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable for constructing heterocyclic compounds. It is also employed in the development of biologically active compounds, including potential drug candidates, due to its ability to introduce specific functional groups into target molecules. Additionally, it finds utility in material science for creating advanced organic materials with tailored properties.