Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in drug development. Additionally, it is utilized in the synthesis of complex organic molecules, including agrochemicals and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, making it a versatile reagent in medicinal chemistry and material science research.