This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals, enabling the formation of carbon-carbon bonds with high efficiency and selectivity. Its boronic acid functional group makes it a valuable reagent for constructing complex molecular structures, often used in the development of drugs targeting various diseases. Additionally, it finds applications in material science, where it contributes to the synthesis of advanced polymers and organic electronic materials.