This compound is primarily utilized in organic synthesis and medicinal chemistry, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and bioactive compounds. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in creating drug candidates and fine chemicals. Additionally, it is employed in the synthesis of boron-containing materials for use in sensors and optoelectronic devices. Its applications also extend to research in targeted drug delivery systems, where it can be used to design molecules with specific binding properties.