This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex biaryl structures. These reactions are essential in the pharmaceutical industry for synthesizing drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it is utilized in materials science for developing organic electronic materials, such as those used in OLEDs and semiconductors. Its boronic acid group facilitates efficient and selective coupling with aryl halides, making it a valuable tool in research and industrial applications.