Primarily utilized as a boron source in organic synthesis, this compound facilitates the borylation of aryl halides, enabling the formation of aryl boronates. These intermediates are crucial in Suzuki-Miyaura cross-coupling reactions, which are widely employed in pharmaceutical and material science industries for constructing complex organic molecules. Additionally, it serves as a reagent in the preparation of boron-containing polymers, enhancing their thermal stability and flame retardancy. Its role in catalysis and as a stabilizing agent in various chemical processes further underscores its versatility in industrial applications.