This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic compounds, including pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of biologically active molecules. Additionally, it is employed in the development of materials for organic electronics and sensors, where its unique structure contributes to the desired properties of the final product.