Primarily utilized in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, which are pivotal for constructing carbon-carbon bonds in complex organic molecules. This reaction is extensively employed in the development of drugs, particularly those targeting cancer and inflammatory diseases. Additionally, it finds application in material science for the synthesis of organic electronic materials, contributing to advancements in OLED technology and organic photovoltaics. Its versatility in coupling reactions also makes it valuable in the production of fine chemicals and specialty polymers, enhancing their performance characteristics.