Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, which are crucial for forming carbon-carbon bonds in complex molecules. This makes it valuable in the development of drugs targeting various diseases, including cancer and infectious diseases. Additionally, it is utilized in the synthesis of advanced materials and organic electronic compounds, contributing to innovations in material science and technology.