Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds. This compound is essential in the development of complex molecules, including potential drug candidates, due to its boronic acid group, which facilitates efficient coupling with aryl halides. Its application extends to the production of biologically active compounds, making it a crucial component in medicinal chemistry research.