Used in organic synthesis as a key intermediate for the preparation of pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to create complex organic molecules. This compound is often utilized in the development of biologically active compounds, including potential drug candidates targeting various diseases. Its boronic acid group enables efficient coupling with aryl halides, making it a versatile building block in medicinal chemistry. Additionally, it may be applied in the synthesis of advanced materials and sensors due to its unique structural properties.