Used in organic synthesis as a building block for pharmaceuticals and agrochemicals, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the development of complex organic molecules, including potential drug candidates. The benzofuran scaffold is often found in bioactive compounds, so this reagent supports the synthesis of compounds with possible antifungal, anti-inflammatory, or anticancer properties. Also employed in materials science for creating conjugated systems in organic electronics.