Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in drug development. Additionally, it is employed in the creation of biologically active molecules, particularly in the design of enzyme inhibitors and receptor modulators. Its application extends to materials science, where it contributes to the synthesis of advanced polymers and organic electronic materials.