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