This compound is primarily utilized in organic synthesis as a boron-containing reagent, particularly in Suzuki-Miyaura cross-coupling reactions. These reactions are widely employed in the pharmaceutical and materials science industries to form carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its stability and reactivity make it a valuable intermediate in the production of active pharmaceutical ingredients (APIs) and advanced materials. Additionally, it can be used in the development of novel compounds for research purposes, including potential drug candidates and functional materials.