This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry for developing active pharmaceutical ingredients (APIs). Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is utilized in material science for synthesizing advanced polymers and organic electronic materials. Its unique structure also makes it valuable in research for studying reaction mechanisms and developing new catalytic processes.