This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the construction of complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the synthesis of biologically active compounds, including potential therapeutics for various diseases. Additionally, it may find use in material science for creating advanced polymers or functionalized materials with specific properties.