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 diverse chemical structures. Additionally, it is used in the development of active pharmaceutical ingredients (APIs) and fine chemicals, contributing to the synthesis of biologically active compounds.