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 in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the construction of complex biphenyl structures. These structures are often found in active pharmaceutical ingredients (APIs) and organic electronic materials. Additionally, it is utilized in the development of sensors and catalysts due to its ability to form stable complexes with various organic and inorganic molecules.