This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential for constructing complex organic molecules. Its application is significant in the development of pharmaceuticals, where it aids in the synthesis of biologically active compounds. Additionally, it is used in material science for creating advanced polymers and organic electronic materials. The thiazole and pyrazole moieties in its structure contribute to its versatility in forming diverse chemical structures, making it valuable in research and industrial applications.