This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a valuable boronic acid derivative, enabling the formation of carbon-carbon bonds through Suzuki-Miyaura coupling. This reaction is widely employed in the pharmaceutical industry for the development of complex molecules, including drug candidates. Additionally, it finds application in materials science for the synthesis of organic electronic materials, where precise molecular construction is essential. Its stability and reactivity make it a versatile reagent in constructing heterocyclic frameworks, which are often key components in bioactive compounds.