This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic 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 many active drug ingredients. Additionally, it is employed in material science for the synthesis of advanced polymers and electronic materials, where precise molecular architecture is required. Its stability and reactivity make it a valuable reagent in research and industrial applications.