This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the development of active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, it is employed in the synthesis of heterocyclic compounds, which are often used in drug discovery and material science due to their diverse biological and chemical properties.