Primarily used in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals, particularly in the development of antifungal and antibacterial agents. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in constructing complex organic molecules. Additionally, it is employed in the synthesis of bioactive compounds and materials for chemical research, contributing to advancements in medicinal chemistry and drug discovery.