This compound is primarily used in organic synthesis as a building block for creating more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid reagent to form carbon-carbon bonds. This reaction is widely applied in the pharmaceutical industry for synthesizing drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it finds utility in materials science for developing organic electronic materials, such as polymers and small molecules used in OLEDs and other optoelectronic devices. Its stability and reactivity make it a versatile tool in research and industrial applications.