This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as a key intermediate in the development of bioactive compounds, contributing to the creation of potential drug candidates. Its unique structure also allows for applications in material science, where it can be used to modify surfaces or create functionalized polymers.