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 for constructing complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it finds utility in material science for synthesizing organic electronic materials, where precise molecular architecture is crucial. Its stability and reactivity make it a valuable tool in research and industrial applications.