Used primarily in organic synthesis, this compound serves as a key intermediate in the formation of complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the creation of carbon-carbon bonds, essential for constructing pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, making it a versatile tool in medicinal chemistry for developing new drugs. Additionally, it finds application in material science for designing advanced organic materials with specific electronic properties.