This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. 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, where it aids in the development of drug candidates by facilitating the synthesis of diverse aromatic compounds. Additionally, it is employed in material science for creating advanced polymers and functional materials with tailored properties. Its ability to act as a building block in chemical reactions makes it valuable in both academic and industrial settings.