Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group facilitates cross-coupling reactions, such as Suzuki-Miyaura coupling, enabling 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 is employed in the development of materials science applications, including the synthesis of organic electronic materials and catalysts.