This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for the creation of complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl compounds. These compounds are often explored for their potential biological activities, including drug candidates for various therapeutic areas. Additionally, it is used in materials science for designing advanced organic materials with specific electronic or structural properties. Its versatility makes it valuable in both academic and industrial research settings.