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 facilitates the coupling with aryl halides, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for synthesizing advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile tool in various chemical transformations.