This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating biaryl compounds, which are essential in drug development. Additionally, it is utilized in the synthesis of bioactive molecules and materials with potential applications in medicinal chemistry and material science. Its stability and reactivity make it a versatile reagent in various catalytic processes.