This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a crucial building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Additionally, it finds application in material science for the synthesis of conjugated polymers and organic electronic materials, which are essential for manufacturing organic light-emitting diodes (OLEDs) and other advanced materials. Its boronic acid group enables efficient and selective coupling with various aryl halides, making it a versatile reagent in synthetic chemistry.