This compound is primarily used as a key intermediate in organic synthesis, particularly in the pharmaceutical industry. It plays a significant role in the development of active pharmaceutical ingredients (APIs) due to its boronic acid functional group, which is essential for Suzuki-Miyaura cross-coupling reactions. These reactions are widely employed to form carbon-carbon bonds, enabling the synthesis of complex molecules. The compound is also utilized in the production of agrochemicals and fine chemicals, where its structural properties contribute to the creation of biologically active compounds. Additionally, it is employed in research and development for designing and testing new drug candidates, particularly in the fields of oncology and neurology. Its stability and reactivity make it a valuable tool in medicinal chemistry and material science.