This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. The boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of biaryl compounds. Additionally, it finds application in the development of novel materials and catalysts, contributing to advancements in drug discovery and material science. Its stability and reactivity under mild conditions make it a preferred choice in various chemical transformations.