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 the creation of complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group allows for efficient coupling with aryl or vinyl halides, enabling the formation of carbon-carbon bonds. Additionally, it finds application in material science for the synthesis of conjugated polymers and organic electronic materials, contributing to advancements in optoelectronics and sensors.