This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing aromatic compounds. Additionally, it is utilized in material science for designing advanced polymers and electronic materials. Its unique structure allows for precise modifications, enhancing the properties of the final products.