This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in pharmaceutical research and development, where it aids in the synthesis of potential drug candidates. Additionally, it is used in material science for creating advanced polymers and organic electronic materials. The compound’s stability and reactivity make it a valuable tool in catalysis and the production of fine chemicals.