This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid reagent. It facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its application is also seen in the development of advanced materials, such as polymers and liquid crystals, where precise molecular structures are crucial. Additionally, it is employed in medicinal chemistry research for the design and synthesis of potential drug candidates, especially in the development of enzyme inhibitors and receptor modulators. Its role in these areas highlights its importance in creating innovative compounds with specific biological activities.