This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating bioactive compounds. Additionally, it is used in the development of materials for organic electronics due to its ability to modify and functionalize aromatic systems. Its unique structure also makes it a candidate for research in medicinal chemistry, particularly in the design of enzyme inhibitors or receptor ligands.