Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and bioactive molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic compounds. Its boronic acid group is essential for these coupling reactions, making it a versatile reagent in medicinal chemistry and drug discovery. Additionally, it finds applications in the development of advanced materials and chemical sensors due to its ability to interact selectively with specific target molecules.