This compound is primarily used in organic synthesis as a boron reagent, particularly in Suzuki-Miyaura cross-coupling reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity with various aryl halides enable efficient synthesis of complex organic molecules. Additionally, it is employed in the development of fluorescent probes and sensors due to its unique structural properties.