This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a boronic acid derivative, enabling the formation of carbon-carbon bonds, which is crucial in constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of diverse chemical structures. Additionally, it is employed in material science for creating advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable reagent in both academic and industrial settings.