This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boron-containing structure enables efficient carbon-carbon bond formation, making it valuable in the development of drugs, polymers, and advanced materials. Additionally, it is used in research for creating fluorescent probes and sensors due to its ability to interact with specific biological targets. Its stability and reactivity under mild conditions further enhance its application in diverse chemical processes.