Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the creation of complex molecules. Its boronic acid group is essential for these coupling reactions, making it a versatile building block in medicinal chemistry. Additionally, it finds applications in the development of bioactive compounds, including potential drug candidates targeting specific diseases. Its stability and reactivity make it a preferred choice in research and industrial settings for synthesizing novel organic compounds.