This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group allows it to form stable bonds with various aryl halides, making it valuable for constructing biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it is utilized in materials science for synthesizing advanced polymers and organic electronic materials. Its versatility and efficiency in coupling reactions make it a crucial reagent in modern chemical research and industrial applications.