This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the development of drug candidates, where it can be used to introduce furan and pyridine moieties into target molecules. Additionally, it finds application in material science for synthesizing organic electronic materials, where its structural components contribute to desired electronic properties.