This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate for constructing complex biaryl structures. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in pharmaceutical research for creating potential drug candidates. Additionally, it finds application in material science for developing organic electronic materials and polymers. Its pyrrolidine moiety can also contribute to enhancing the binding affinity of molecules in medicinal chemistry, aiding in the design of biologically active compounds.