This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the construction of complex organic molecules, especially in the pharmaceutical industry for the development of drugs and bioactive compounds. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in materials science for the synthesis of organic electronic materials, including liquid crystals and polymers, due to its biphenyl structure and functional groups that allow for tailored molecular design.