This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura reactions. It serves as a key intermediate for creating complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient bond formation with aryl halides, making it valuable in constructing carbon-carbon bonds. Additionally, it finds utility in material science for developing advanced polymers and functional materials. Its unique structure also makes it a candidate for research in medicinal chemistry, where it may be explored for potential therapeutic applications.