This compound is widely used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry for developing drug candidates. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating biaryl structures. Additionally, it finds applications in material science for synthesizing organic electronic materials and polymers. Its stability and reactivity make it a versatile building block in various chemical transformations.