Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in the pharmaceutical industry. It is employed in cross-coupling reactions, such as Suzuki-Miyaura couplings, to form carbon-carbon bonds, which are crucial in the development of drug candidates. Its boronic acid group facilitates efficient and selective reactions, making it valuable for constructing heterocyclic compounds with potential therapeutic applications. Additionally, it is utilized in material science for designing advanced polymers and organic electronic materials.