This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drugs and bioactive compounds. Its boronic acid group allows for efficient coupling with aryl halides, enabling the formation of carbon-carbon bonds. This makes it valuable in creating compounds with potential therapeutic applications, such as antiviral or anticancer agents. Additionally, it is utilized in materials science for designing advanced organic materials with specific electronic or structural properties.