This compound is primarily used as a key intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. Its boronic acid functional group enables it to act as a versatile building block in the creation of biologically active compounds, such as inhibitors, receptor modulators, and other therapeutic agents. Additionally, it is utilized in the preparation of advanced materials and fine chemicals, contributing to innovations in drug discovery and material science.