This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of active pharmaceutical ingredients. Additionally, it is utilized in the production of advanced materials, including polymers and liquid crystals, due to its ability to introduce boron-containing functional groups. Its stability and reactivity make it a valuable reagent in research and industrial applications for constructing carbon-carbon bonds efficiently.