This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for constructing complex molecules, especially in the pharmaceutical industry where it is used to develop active pharmaceutical ingredients (APIs). Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures commonly found in drugs and agrochemicals. Additionally, it finds applications in material science for designing organic electronic materials, such as those used in OLEDs and sensors, due to its ability to form stable conjugated systems.