This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drugs targeting various diseases. Additionally, it is utilized in material science for creating advanced polymers and coatings with specific properties. Its boronic acid group enables it to act as a versatile building block in the design of bioactive compounds and functional materials.