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, often used in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables it to form stable covalent bonds with other organic molecules, making it valuable in constructing carbon-carbon bonds. Additionally, it finds application in material science for designing advanced polymers and functional materials. Its pyrazole moiety contributes to its versatility in forming heterocyclic compounds, which are essential in drug discovery and development.