This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the preparation of complex molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the development of drugs targeting various diseases. Additionally, it finds application in material science for the synthesis of organic electronic materials and polymers. Its unique structure allows for precise modifications, enhancing the efficiency and specificity of the final products.