Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. 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 molecules. Its boronic acid group is crucial for these coupling reactions, making it a versatile reagent in the development of drugs, especially those targeting cancer and other diseases. Additionally, it finds application in material science for the creation of advanced polymers and electronic materials, where its unique structure contributes to the desired properties of the final product.