This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura coupling reactions, which are widely used to form carbon-carbon bonds. This makes it valuable in the development of complex molecules, including potential drug candidates. Additionally, its unique structure allows for modifications in the synthesis of biologically active compounds, contributing to research in medicinal chemistry.