This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate in the production of complex molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient bond formation with aryl or vinyl halides, making it valuable in constructing carbon-carbon bonds. Additionally, it finds application in the development of biologically active compounds, such as enzyme inhibitors or receptor modulators, due to its structural versatility. Its use in medicinal chemistry research is notable for designing potential drug candidates targeting various diseases.