This compound 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 creating complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of heterocyclic compounds, which are essential in drug discovery and material science. Its stability and reactivity make it a valuable reagent in medicinal chemistry for designing and optimizing bioactive molecules.