This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This reaction is widely employed in the pharmaceutical industry for the synthesis of complex molecules, including active pharmaceutical ingredients (APIs). Additionally, it finds application in material science for the development of organic electronic materials, such as polymers and small molecules used in organic light-emitting diodes (OLEDs) and other optoelectronic devices. Its role in these processes is crucial due to its stability and reactivity under mild conditions.