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 facilitates the formation of carbon-carbon bonds, enabling the synthesis of biaryl compounds, which are essential in drug development. Additionally, it is employed in material science for creating advanced polymers and coatings with specific functional properties. Its stability and reactivity make it a valuable reagent in research and industrial applications.