This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid moiety makes it a valuable reagent in pharmaceutical research for developing drug candidates. Additionally, it is used in material science to create advanced polymers and functional materials. Its stability and reactivity under mild conditions make it a preferred choice in various catalytic processes.