This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group allows it to form carbon-carbon bonds efficiently, making it valuable in the development of drugs, polymers, and fine chemicals. Additionally, it is utilized in material science for designing advanced organic materials with specific electronic or optical properties. Its versatility and reactivity make it a crucial reagent in modern synthetic chemistry.