This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. The boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in drug molecules. Additionally, its pyrrolidine moiety can enhance solubility and bioavailability, making it valuable in medicinal chemistry. Its applications also extend to materials science, where it is used to create advanced polymers and functional materials with specific electronic or optical properties.