This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This reaction is widely employed in the pharmaceutical industry for the synthesis of complex molecules, including drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it finds applications in material science for the development of organic electronic materials, such as polymers and small molecules used in organic light-emitting diodes (OLEDs) and organic photovoltaics (OPVs). Its stability and reactivity make it a valuable tool in the construction of diverse organic frameworks.