This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables it to form stable bonds with various organic molecules, making it valuable for constructing complex chemical structures. It is often employed in the development of pharmaceuticals, where it aids in the creation of active pharmaceutical ingredients (APIs) with specific properties. Additionally, it finds use in material science for designing advanced polymers and coatings. Its ability to act as a catalyst or intermediate in chemical processes makes it a versatile tool in research and industrial applications.