Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals, particularly in the development of drugs targeting specific enzymes or receptors. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in creating complex organic molecules. Additionally, it finds application in the synthesis of biologically active compounds, including potential treatments for cancer and other diseases. Its unique structure also makes it valuable in materials science for designing advanced polymers and coatings with tailored properties.