This compound is primarily utilized in organic synthesis as a key intermediate for the construction of complex molecules, particularly in cross-coupling reactions. It is often employed in Suzuki-Miyaura coupling, a widely used method for forming carbon-carbon bonds, due to its boronic acid functional group. This reaction is essential in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its bicyclic structure can impart unique steric and electronic properties, making it valuable in the development of novel compounds with specific biological or chemical activities. Its application extends to materials science, where it contributes to the creation of organic electronic materials and polymers.