This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a valuable boronic acid derivative, enabling the formation of carbon-carbon bonds in the construction of complex molecules. Its tert-butoxycarbonyl (Boc) protecting group ensures stability during reactions, making it suitable for use in multi-step synthetic processes. This chemical is often employed in pharmaceutical research and development for creating biologically active compounds, including drug candidates. Its versatility also extends to material science, where it aids in the synthesis of advanced organic materials.