Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate for creating complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the development of drugs and bioactive compounds. Additionally, it is employed in the production of liquid crystals and organic electronic materials due to its ability to modify molecular structures effectively.