This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions, where it serves as a boron-containing reagent. Its application is significant in the development of pharmaceuticals, as it enables the formation of carbon-carbon bonds, a critical step in drug synthesis. Additionally, it is employed in the preparation of complex organic molecules for material science, aiding in the creation of advanced polymers and electronic materials. Its role in Suzuki-Miyaura coupling reactions is particularly noteworthy, as it facilitates the construction of biaryl structures, which are common in many active pharmaceutical ingredients.