This compound is primarily utilized in organic synthesis and pharmaceutical research due to its boronic acid functional group, which is highly effective in Suzuki-Miyaura cross-coupling reactions. These reactions are crucial for forming carbon-carbon bonds, enabling the synthesis of complex organic molecules, including potential drug candidates. Its structure, featuring a chlorophenyl group, makes it particularly useful in creating bioactive compounds with specific targeting properties. Additionally, it serves as an intermediate in the development of materials with potential applications in sensors or optoelectronics, leveraging its ability to interact with various substrates. Its role in medicinal chemistry is significant, as it can be used to design molecules with enhanced binding affinity or therapeutic efficacy.