Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the formation of carbon-carbon bonds, enabling the creation of complex organic molecules. It is valuable in pharmaceutical research for developing drug candidates, as boronic acids are known for their role in producing biologically active compounds. Additionally, it finds application in material science for designing advanced polymers and electronic materials. Its stability and reactivity make it a versatile reagent in various chemical transformations.