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, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in many bioactive compounds. Additionally, it may be employed in materials science for creating advanced polymers or functional materials with specific properties. Its application extends to research settings, where it is used to explore new chemical reactions or pathways in organic chemistry.