This chemical 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 biologically active compounds. Additionally, it is employed in material science for creating advanced polymers and functional materials. The compound's stability and reactivity make it a valuable tool in various fields of chemical research and industrial applications.