This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drugs and bioactive compounds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in medicinal chemistry. Additionally, it is utilized in materials science for synthesizing advanced polymers and organic electronic materials. Its unique structure also allows for applications in the development of sensors and catalysts.