This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group facilitates the coupling with aryl halides in the presence of a palladium catalyst, making it valuable in the development of drugs and fine chemicals. Additionally, it is employed in material science for designing advanced polymers and electronic materials due to its ability to introduce specific functional groups into molecular structures. Its stability and reactivity make it a versatile tool in research and industrial applications.