This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a versatile boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of diverse chemical structures. Additionally, it is employed in material science for the creation of advanced organic materials with specific properties. Its stability and reactivity make it a valuable tool in various synthetic pathways.