Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound serves as a crucial building block in organic synthesis. Its boronic acid group facilitates the formation of carbon-carbon bonds, enabling the creation of complex molecules, particularly in pharmaceutical research. It is often employed in the development of drug candidates, especially those targeting central nervous system disorders, due to its unique structural properties. Additionally, it plays a role in material science, aiding in the synthesis of advanced polymers and organic electronic materials. Its versatility makes it a valuable reagent in both academic and industrial laboratories.