This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in constructing biaryl structures. Additionally, it is utilized in the development of materials for organic electronics, such as OLEDs, due to its ability to form stable conjugated systems. Its application extends to biochemical research, where it is employed in the synthesis of bioactive compounds for drug discovery and development.