Used primarily in organic synthesis, this compound serves as a key intermediate in Suzuki-Miyaura cross-coupling reactions. It facilitates the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its application is particularly valuable in the pharmaceutical industry for synthesizing drug candidates with potential therapeutic properties. Additionally, it finds use in material science for developing advanced organic materials, such as polymers and liquid crystals, which are essential in electronic devices and display technologies. Its boronic acid group enhances its reactivity, making it a versatile building block in various chemical transformations.