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. Its boronic acid functional group allows it to act as a versatile building block for creating complex molecular structures. Additionally, it is employed in the development of advanced materials, including polymers and ligands for catalysis, due to its ability to facilitate precise molecular modifications.