This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a boronic acid derivative, enabling the formation of carbon-carbon bonds in the construction of complex organic molecules. Its application is significant in the pharmaceutical industry, where it is used to synthesize active pharmaceutical ingredients (APIs) and intermediates. Additionally, it finds use in material science for the development of organic electronic materials and polymers. Its stability and reactivity make it a valuable reagent in research and industrial processes.