This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables it to form stable bonds with other organic compounds, making it valuable for constructing biologically active molecules. Additionally, it is employed in material science for designing advanced polymers and functional materials. Its versatility and reactivity make it a useful reagent in research and industrial applications.