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 drug candidates. Its boronic acid group facilitates the formation of carbon-carbon bonds, enabling the synthesis of biaryl compounds, which are essential in many therapeutic agents. Additionally, it is employed in material science for creating advanced polymers and electronic materials. Its stability and reactivity make it a valuable reagent in research and industrial applications.