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 molecules, especially in pharmaceutical research and development. The boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable for constructing diverse chemical structures, such as drug intermediates or bioactive compounds. Its application is also seen in material science, where it contributes to the synthesis of advanced organic materials with specific electronic or optical properties.