Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. Its boronic acid group facilitates efficient coupling with aryl halides, making it essential in the development of drugs targeting specific biological pathways. Additionally, it finds application in material science for designing advanced polymers and electronic materials. Its stability and reactivity make it a versatile tool in research and industrial chemistry.