Used in organic synthesis as a key intermediate for the preparation of pharmaceuticals, particularly in Suzuki-Miyaura cross-coupling reactions. This reaction is essential for creating complex molecules, including potential drug candidates. It is also employed in the development of materials for organic electronics and sensors due to its ability to form stable boronates. Additionally, it plays a role in the synthesis of agrochemicals and fine chemicals, contributing to advancements in crop protection and industrial chemistry. Its unique structure allows for precise modifications in molecular design, making it valuable in research and development.