This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables it to form carbon-carbon bonds efficiently, making it valuable for creating biologically active compounds. Additionally, it is utilized in the development of advanced materials, including polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular structures.