This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction, where it serves as a boronic acid reagent. Its structure, featuring a boronic acid group, makes it effective for forming carbon-carbon bonds, which is essential in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. The compound is also used in the development of bioactive compounds and materials science research, where its unique functional groups allow for precise modifications in molecular design. Additionally, it finds applications in the preparation of intermediates for drug discovery, particularly in creating compounds with potential therapeutic properties.