This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it finds application in material science, where it contributes to the synthesis of advanced polymers and functional materials. Its unique structure also makes it valuable in research for designing novel compounds with potential biological activity.