This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the synthesis of biologically active compounds, including drug candidates targeting various diseases. Additionally, it is employed in material science for creating advanced organic materials with specific electronic or structural properties.