This chemical is commonly used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of pharmaceuticals, enabling the formation of carbon-carbon bonds in complex molecules. Its boronic acid group is essential for coupling with aryl halides, making it valuable in creating biologically active compounds. Additionally, it is utilized in material science for developing organic electronic materials and polymers. Its stability and reactivity make it a preferred choice in medicinal chemistry for drug discovery and development.