This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key reagent for constructing complex organic molecules, especially in the development of pharmaceuticals and organic materials. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in the synthesis of biaryl compounds. Additionally, it finds applications in the production of organic light-emitting diodes (OLEDs) and other electronic materials due to its ability to form stable conjugated systems. Its role in creating advanced polymers and coatings also highlights its importance in material science.