Used primarily in organic synthesis, this compound serves as a key building block in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. This makes it valuable in the development of drugs, particularly in creating targeted therapies for diseases like cancer. Additionally, it is utilized in material science for the design of organic electronic materials, where its structural properties contribute to the development of advanced polymers and coatings.