Used as a key reagent in organic synthesis, particularly in the preparation of organoboron compounds. It serves as a catalyst or co-catalyst in various cross-coupling reactions, such as Suzuki-Miyaura coupling, enabling the formation of carbon-carbon bonds. This compound is also employed in electrochemical applications, including the fabrication of ion-selective electrodes for detecting specific ions in analytical chemistry. Additionally, it finds use in polymer chemistry for modifying and stabilizing polymers, enhancing their properties for industrial applications. Its role in facilitating selective chemical transformations makes it valuable in pharmaceutical and materials research.