This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in pharmaceutical research and development. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it is employed in material science for designing advanced organic materials, including polymers and sensors, due to its ability to form stable covalent bonds with various organic substrates.