Primarily utilized in organic synthesis, this compound serves as a crucial building block for the preparation of complex molecules. It is often employed in cross-coupling reactions, such as Suzuki-Miyaura coupling, to create biaryl structures, which are prevalent in pharmaceuticals and agrochemicals. Its boronic acid group enables efficient conjugation with various aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is used in the development of drug candidates, particularly in the synthesis of heterocyclic compounds that exhibit biological activity. Researchers also leverage its properties in material science for designing advanced organic materials with specific electronic or optical characteristics.