This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group facilitates the coupling with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the development of drugs and other bioactive compounds. Additionally, it can be employed in materials science for the synthesis of advanced polymers and organic electronic materials.