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 the construction of complex organic molecules, especially in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating biologically active compounds. Additionally, the pyrrolidin-1-ylmethyl group enhances its solubility and reactivity in various organic solvents, facilitating its use in medicinal chemistry for designing drug candidates. It is also employed in material science for the synthesis of advanced polymers and functional materials.