Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. It is particularly useful in the development of drug candidates targeting various diseases, including cancer and neurological disorders. Additionally, it finds applications in material science for the synthesis of advanced polymers and electronic materials. Its versatility and reactivity make it a crucial component in modern chemical research and industrial processes.