Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals, particularly in the development of drugs targeting various diseases. It is also employed in Suzuki-Miyaura cross-coupling reactions, a widely utilized method in the creation of complex organic molecules, including polymers and agrochemicals. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in the production of advanced materials and bioactive compounds. Additionally, it finds application in the research and development of new therapeutic agents due to its ability to interact with biological targets.