This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic compounds, including pharmaceuticals and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in creating biologically active molecules. Additionally, it is employed in material science for the development of organic electronic materials and polymers. Its furan and pyridine moieties contribute to its versatility in designing compounds with specific electronic and structural properties.