This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for producing complex organic compounds, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in drug discovery and development. Additionally, it is employed in material science for creating advanced polymers and functional materials. Its specific structure allows for targeted modifications in molecular design, enhancing its utility in research and industrial applications.