This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in creating biologically active compounds. Additionally, it is utilized in material science for designing advanced polymers and organic electronic materials. Its deuterated form enhances its utility in mechanistic studies and isotopic labeling applications.