This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the creation of diverse chemical structures. Additionally, it is employed in material science for the preparation of advanced polymers and functional materials. Its boronic acid group allows for selective interactions, making it valuable in sensor development and molecular recognition studies.