Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create biaryl compounds, which are essential in pharmaceuticals and materials science. Acts as a key intermediate in the development of drugs, especially for cancer treatment and other therapeutic agents. Also employed in the preparation of advanced organic materials, such as polymers and liquid crystals, due to its ability to form stable boron-carbon bonds. Its unique structure allows for precise modifications in complex molecular frameworks, enhancing the efficiency of chemical transformations.