This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables it to form stable bonds with various organic substrates, making it valuable in the development of drugs and other bioactive compounds. Additionally, it is employed in material science for the creation of advanced polymers and functional materials. Its unique structure allows for precise modifications, enhancing the properties of the final products.