This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic acid group allows for efficient coupling with aryl or vinyl halides, enabling the formation of carbon-carbon bonds. This makes it valuable in the synthesis of heterocyclic compounds, which are often found in drugs and biologically active molecules. Additionally, it is utilized in material science for the development of organic electronic materials, such as organic light-emitting diodes (OLEDs) and conductive polymers, due to its ability to form stable conjugated systems.