This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of bioactive compounds, including potential drug candidates targeting various diseases. Its stability and reactivity make it a valuable tool in medicinal chemistry research.