Used primarily in organic synthesis, it serves as a key intermediate in the preparation of various pharmaceutical compounds. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in drug development. Additionally, it is employed in the synthesis of biologically active molecules, particularly those targeting enzyme inhibition or receptor modulation. Its application extends to material science, where it aids in creating advanced polymers and coatings with specific properties.