Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable for creating active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it is employed in material science for the development of organic electronic materials and polymers. Its stability and reactivity under mild conditions make it a preferred choice for researchers in organic synthesis and drug discovery.