This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for constructing carbon-carbon bonds, enabling the formation of biaryl structures, which are essential in pharmaceuticals, agrochemicals, and materials science. Its boronic acid group allows for efficient coupling with aryl halides or pseudohalides in the presence of a palladium catalyst. Additionally, it finds applications in the development of advanced organic materials, such as liquid crystals and polymers, due to its ability to introduce specific functional groups into complex molecules.