Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex organic molecules. Additionally, it is employed in the synthesis of fluorescent dyes and materials for organic light-emitting diodes (OLEDs), contributing to advancements in display and lighting technologies.