Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of various pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in the production of complex organic molecules. Additionally, it is employed in the development of bioactive compounds and materials for organic electronics due to its stability and reactivity. The compound's versatility also extends to its use in creating ligands for catalysis and in medicinal chemistry for drug discovery.