This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic acid reagent. Its structure, featuring a pyrrolidinylpropoxy group, enhances its solubility and reactivity in various organic solvents, making it a valuable intermediate in the synthesis of complex molecules. It is often employed in the development of pharmaceuticals, where it contributes to the creation of biologically active compounds, including potential drug candidates. Additionally, it finds use in material science for the preparation of advanced organic materials, such as polymers and ligands for catalysis. Its unique chemical properties make it a versatile tool in research and industrial applications.