This chemical 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 the pharmaceutical industry for synthesizing active pharmaceutical ingredients (APIs) and intermediates. Additionally, it is used in material science for developing advanced organic materials and polymers. The compound's stability and reactivity make it a valuable tool in research and industrial processes for creating tailored molecular structures.