This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction, where it acts as a key intermediate for constructing complex molecules. Its boronic acid group enables efficient coupling with aryl or vinyl halides, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it finds use in material science for creating advanced organic materials with specific electronic or structural properties. Its stability and reactivity make it a versatile building block in various chemical transformations.