Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting various diseases. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This chemical is also employed in the production of advanced materials, such as organic electronic components, where precise molecular structures are required. Additionally, it serves as a building block in the creation of sensors and probes for detecting specific biological molecules, aiding in diagnostic applications.