Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of complex organic molecules, particularly in pharmaceutical research. Its boronic acid group enables the formation of carbon-carbon bonds, facilitating the creation of biaryl structures found in many drugs. Additionally, it is employed in material science for the development of organic electronic materials, where its ability to form stable bonds with various substrates is highly valued. The compound's versatility also extends to the preparation of advanced polymers and ligands for catalytic systems, enhancing their performance in industrial applications.