Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, which are widely employed in the pharmaceutical industry to create complex biaryl compounds. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in the development of drugs, agrochemicals, and advanced materials. Additionally, it serves as a building block in the preparation of heterocyclic compounds, which are essential in medicinal chemistry for designing molecules with therapeutic properties.