Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, essential for constructing pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with various aryl halides, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the development of biologically active compounds, including potential drug candidates targeting specific enzymes or receptors. Its unique structure allows for the introduction of furyl and pyrimidine moieties, which are common in molecules with therapeutic properties.