This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a crucial building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group allows it to form stable covalent bonds with various organic substrates, making it valuable for constructing heterocyclic compounds. Additionally, it finds application in material science for designing advanced polymers and functional materials. Its pyridine and furan moieties contribute to its versatility in forming structurally diverse compounds with potential biological activity.