This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry where it is used to develop drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the construction of biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it finds application in material science for the development of organic electronic materials, where its ability to form stable conjugated systems is highly valuable.