This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in pharmaceutical research and development. Its boronic acid group enables it to form stable bonds with various organic structures, making it valuable in the production of drugs, agrochemicals, and advanced materials. Additionally, it is employed in the synthesis of ligands for catalysis and in the development of organic electronic materials. Its versatility and reactivity make it a crucial component in modern synthetic chemistry.