Used primarily in organic synthesis, this compound serves as a key intermediate in cross-coupling reactions, particularly Suzuki-Miyaura coupling, to form carbon-carbon bonds. Its boronic acid group facilitates the formation of biaryl structures, which are essential in pharmaceuticals and agrochemicals. Additionally, it is employed in the development of complex molecules for drug discovery, targeting diseases such as cancer and infections. Its stability and reactivity make it a valuable tool in medicinal chemistry for creating diverse and potent bioactive compounds.