This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. Its boronic acid group enables it to form stable bonds with aromatic rings, making it valuable for creating carbon-carbon bonds in drug discovery and material science. Additionally, it may be used in the synthesis of bioactive compounds or as a building block for designing molecules with potential therapeutic applications.