This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group allows for efficient coupling with aryl or vinyl halides, enabling the creation of biaryl structures. This is valuable in designing compounds with potential therapeutic applications, such as enzyme inhibitors or receptor modulators. Additionally, its specific substitution pattern (chloro and fluoro groups) can influence the biological activity of the final product, making it useful in medicinal chemistry research.