Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valued in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its boronic acid group is crucial for these coupling reactions, making it a versatile building block in drug discovery and development. Additionally, it finds application in the creation of advanced materials and polymers, contributing to innovations in material science.