Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex biaryl compounds. These compounds are valuable in pharmaceutical research for developing drug candidates. It serves as a key intermediate in the production of biologically active molecules, including potential therapeutics for various diseases. Its boronic acid group enables efficient coupling with aryl halides, making it a versatile building block in medicinal chemistry. Additionally, it is employed in material science for designing advanced organic materials with specific electronic or optical properties.