This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables it to form carbon-carbon bonds efficiently, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. It is often employed in the development of complex organic molecules, including drug candidates, due to its ability to introduce specific functional groups into target structures. Additionally, it serves as a building block in the synthesis of heterocyclic compounds, which are essential in medicinal chemistry and material science. Its stability and reactivity make it a preferred choice for researchers in designing and optimizing chemical processes.