This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of biaryl compounds. Additionally, it is employed in the development of bioactive compounds and materials with potential applications in medicinal chemistry and material science. Its specific structure allows for targeted modifications, enhancing its utility in creating molecules with desired properties.