This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of active pharmaceutical ingredients (APIs). Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating biaryl structures, which are common in many drugs. Additionally, it finds applications in material science for designing advanced organic materials and polymers. Its versatility in forming carbon-carbon bonds makes it a crucial reagent in modern synthetic chemistry.