This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in creating biologically active compounds. Additionally, it finds application in material science for designing advanced polymers and functional materials. Its unique structure also allows for potential use in developing sensors or catalysts for specific chemical processes.