Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Additionally, it finds application in the development of materials for organic electronics, contributing to the creation of advanced polymers and small molecules for use in devices like organic light-emitting diodes (OLEDs). Its boronic acid group also makes it useful in chemosensors for detecting specific analytes, enhancing research in analytical chemistry and diagnostics.