This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate for the formation of carbon-carbon bonds. Its boronic acid group enables the coupling with aryl halides, facilitating the creation of complex biaryl structures, which are essential in the development of pharmaceuticals, agrochemicals, and organic materials. Additionally, it finds application in the preparation of advanced materials, such as polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular frameworks. Its role in medicinal chemistry is also notable, as it contributes to the synthesis of bioactive molecules and potential drug candidates.