This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in the synthesis of biologically active compounds. Additionally, it is employed in the development of materials for organic electronics and sensors due to its ability to interact with various organic and inorganic substrates.