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 complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with various aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the development of advanced materials, including polymers and liquid crystals, due to its ability to introduce specific functional groups into molecular structures. Its stability and reactivity make it a valuable tool in medicinal chemistry for designing and synthesizing bioactive compounds.