This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group allows for efficient coupling with aryl halides, enabling the formation of biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it finds applications in material science for the synthesis of conjugated polymers and organic electronic materials, contributing to the development of advanced materials for optoelectronic devices.