This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex 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 formation of biaryl structures, which are common in many bioactive compounds. Additionally, it is employed in material science for the synthesis of advanced polymers and organic electronic materials, where precise molecular architecture is crucial. Its stability and reactivity make it a valuable tool in research and industrial applications.