Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it helps form carbon-carbon bonds to create complex organic molecules. Additionally, it finds application in the development of agrochemicals and materials science, aiding in the production of advanced polymers and coatings. Its boronic acid group makes it a versatile reagent in the synthesis of biologically active compounds.