This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules. Additionally, it is employed in the development of bioactive compounds and in research for drug discovery, where its structure can be tailored to enhance specific properties or interactions.