Widely used 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, making it valuable for creating biaryl structures found in many drugs. Additionally, it is employed in the development of agrochemicals and advanced materials, where precise molecular construction is essential. Its stability and reactivity also make it a preferred choice in medicinal chemistry for designing bioactive compounds.