Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting cancer and inflammatory diseases. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. Its boronic acid group facilitates the creation of biaryl compounds, which are essential in designing bioactive molecules. Additionally, it is employed in the production of advanced materials and organic electronic devices due to its ability to modify molecular structures effectively.