This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group reacts with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical and material science research. Additionally, it is employed in the development of advanced materials, including polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular structures. Its applications also extend to the synthesis of bioactive compounds and intermediates in drug discovery.