Primarily used in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in complex organic molecules. This makes it valuable in the development of drugs, particularly those targeting cancer and other diseases. Additionally, it is utilized in the synthesis of advanced materials, such as organic semiconductors and liquid crystals, which are critical in electronics and display technologies. Its role in catalysis and material science further highlights its versatility in industrial and research applications.