This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the construction of complex molecules, often in the pharmaceutical industry for developing drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in many bioactive compounds. Additionally, it may be employed in material science for designing advanced organic materials with specific electronic or structural properties. Its versatility in forming carbon-carbon bonds makes it valuable in research and industrial applications.