This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides, making it valuable in pharmaceutical research for developing drug intermediates. Additionally, it is employed in material science for synthesizing advanced polymers and electronic materials. The compound's stability and reactivity make it a versatile tool in various chemical transformations.