This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronic acid functional group enables the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, especially in the synthesis of biologically active compounds targeting specific receptors or enzymes. Additionally, it finds use in material science for creating advanced polymers or functionalized materials with tailored properties. Its versatility in coupling reactions also makes it a useful tool in academic research for exploring new synthetic pathways and methodologies.