This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its boronic acid group allows it to couple with various aryl halides, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for synthesizing advanced polymers and functional materials. Its stability and reactivity make it a versatile tool in catalytic processes and the development of novel chemical entities.