This chemical is primarily used 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 pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group allows it to form carbon-carbon bonds efficiently, making it valuable in the synthesis of heterocyclic compounds. Additionally, it is utilized in material science for designing advanced materials with specific electronic or structural properties. Its versatility in coupling reactions makes it a crucial reagent in both academic research and industrial applications.