This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in many active drug compounds. Additionally, it is employed in material science for creating advanced polymers and functional materials with specific electronic or optical properties. Its stability and reactivity make it a valuable tool in research and industrial applications.