Used primarily in organic synthesis as a building block for creating more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed in the pharmaceutical industry to form carbon-carbon bonds. This compound serves as a boronic acid reagent, enabling the synthesis of various heterocyclic compounds that are essential in drug development. Additionally, it finds applications in material science for the preparation of organic electronic materials. Its versatility makes it a key component in the production of bioactive molecules and advanced functional materials.