This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures. Additionally, it is employed in the synthesis of bioactive compounds, including potential drug candidates targeting various diseases. Its stability and reactivity make it a valuable tool in medicinal chemistry research.