This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the development of pharmaceuticals and biologically active compounds. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in constructing aryl-aryl linkages. Additionally, it is employed in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties. Its application extends to materials science, where it contributes to the development of advanced organic materials and polymers.