This compound is primarily utilized 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 and agrochemical industries. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in active pharmaceutical ingredients. Additionally, its functional groups enhance solubility and reactivity, making it suitable for diverse synthetic applications. The compound is also explored in material science for developing advanced polymers and electronic materials.