Widely used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of complex organic molecules, particularly in pharmaceuticals and agrochemicals. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in creating biaryl compounds. Additionally, it is employed in the development of fluorescent dyes and sensors due to its ability to interact with specific analytes. The compound also finds applications in material science, particularly in the preparation of advanced polymers and coatings. Its stability and reactivity make it a versatile tool in organic synthesis and industrial research.