This compound is primarily utilized 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 novel drug candidates. Its boronic acid functional group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds. Additionally, it finds application in materials science for the synthesis of advanced polymers and organic electronic materials, contributing to the development of OLEDs and other optoelectronic devices.