Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor antagonists. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex molecules. Additionally, it is employed in the synthesis of biologically active compounds targeting diseases such as cancer and inflammation. Its unique structure also makes it valuable in material science for creating advanced polymers and coatings with specific properties.