Widely used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of pharmaceuticals, agrochemicals, and organic materials. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in creating complex molecules for drug discovery and development. Additionally, it is employed in the production of advanced materials, such as polymers and liquid crystals, due to its ability to act as a versatile building block in organic synthesis.