This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. It serves as a key building block for the construction of complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it may be employed in material science for the synthesis of advanced polymers or organic electronic materials, where precise molecular architecture is crucial.