Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronic acid group enables participation in Suzuki-Miyaura cross-coupling reactions, facilitating the formation of carbon-carbon bonds to create complex molecules. This is particularly valuable in drug discovery, where it aids in the development of biologically active compounds. Additionally, it is employed in material science for the synthesis of advanced organic materials with potential applications in electronics and optoelectronics. Its versatility in coupling reactions makes it a crucial reagent in modern synthetic chemistry.