This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, often in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing biologically active compounds. Additionally, it is utilized in the production of materials for organic electronics, such as OLEDs, due to its ability to modify conjugated systems. Its applications also extend to the development of sensors and catalysts, where its structural properties enhance performance and specificity.