This compound is primarily used 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 producing biologically active compounds, including drug candidates. Additionally, it is utilized in the development of materials science applications, such as organic electronics and polymers, due to its ability to introduce functional groups into aromatic systems.