This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the construction of complex molecules, especially in the pharmaceutical industry. Its boronic acid group enables it to participate in Suzuki-Miyaura coupling reactions, which are widely used to form carbon-carbon bonds. This makes it valuable in the development of new drugs and bioactive compounds. Additionally, its structure allows for further functionalization, making it a versatile building block in medicinal chemistry for creating compounds with potential therapeutic applications.