This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical and material science research. Additionally, it is employed in the development of bioactive compounds and advanced materials due to its stability and reactivity under mild conditions.