This compound is primarily used 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 liquid crystal materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of biaryl compounds. Additionally, its structural properties make it suitable for research and development in materials science, especially in the design of advanced organic electronic devices.