Used in the pharmaceutical industry as a key intermediate in the synthesis of various drugs, particularly in the development of enzyme inhibitors and receptor modulators. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is also employed in the production of agrochemicals, contributing to the development of pesticides and herbicides. Additionally, it finds applications in material science for the synthesis of advanced polymers and organic electronic materials. Its boronic acid group makes it valuable in biochemical research for protein labeling and sensing applications.