This chemical is primarily used 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 creation of biaryl structures commonly found in active pharmaceutical ingredients. Additionally, it is utilized in material science for designing advanced polymers and organic electronic materials due to its ability to form stable covalent bonds with various organic compounds.