This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in drug molecules. Additionally, it is employed in the synthesis of bioactive compounds and materials science, where its structural properties contribute to the development of novel polymers and catalysts. Its versatility in forming carbon-carbon bonds makes it valuable in medicinal chemistry for creating diverse chemical libraries.