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 pharmaceuticals, enabling the formation of carbon-carbon bonds to construct complex molecular structures. Its boronic acid group is essential for coupling with aryl or vinyl halides, making it valuable in the development of drugs and bioactive molecules. Additionally, it may be employed in the synthesis of materials for electronic or optoelectronic applications due to its ability to facilitate precise molecular assembly.