This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid reagent. Its structure allows it to form stable carbon-carbon bonds with various aryl or vinyl halides, making it valuable in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, its functional groups enable it to serve as an intermediate in the synthesis of biologically active compounds, such as enzyme inhibitors or receptor modulators. Its application extends to materials science, where it can be used in the development of advanced polymers or coatings with specific properties.