This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronic acid group makes it a valuable building block for creating complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of drug candidates, where it helps form carbon-carbon bonds to construct aromatic or heteroaromatic structures. Additionally, it plays a role in material science for designing advanced organic materials with specific electronic or structural properties. Its application is driven by its ability to act as a versatile intermediate in the preparation of biologically active compounds.