This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with various aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of heterocyclic compounds, which are essential in designing agrochemicals and functional materials. Its stability and reactivity make it a valuable reagent in medicinal chemistry and material science research.