Used primarily in organic synthesis, it serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group enables participation in Suzuki-Miyaura cross-coupling reactions, facilitating the formation of carbon-carbon bonds. This makes it valuable in constructing complex molecules, particularly in drug discovery for creating biologically active compounds. Additionally, it finds utility in material science for developing advanced organic materials with specific electronic or structural properties. Its utility as a building block in medicinal chemistry and in palladium-catalyzed cross-coupling reactions highlights its importance in research and industrial applications.