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 industry. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for producing active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, it is employed in the development of materials science applications, such as creating advanced polymers and functionalized surfaces. Its stability and reactivity make it a versatile reagent in research and industrial processes.