This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for constructing complex molecules, especially in pharmaceutical research and development. The boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating biologically active compounds, including potential drug candidates. Additionally, it finds applications in material science for designing advanced polymers and functional materials. Its role in catalysis and as a ligand in coordination chemistry also highlights its versatility in various chemical processes.