This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid reagent to form carbon-carbon bonds. It is valuable in the pharmaceutical industry for constructing complex molecules, especially in the development of drugs targeting neurological disorders due to its structural similarity to bioactive compounds. Additionally, it serves as a building block in the synthesis of heterocyclic compounds, which are essential in medicinal chemistry for creating potential therapeutic agents. Its application extends to materials science, where it is used in the design of organic electronic materials and catalysts.