Used primarily in organic synthesis, this compound serves as a key intermediate in cross-coupling reactions, such as Suzuki-Miyaura coupling. It facilitates the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates. Additionally, it is employed in material science for the synthesis of organic electronic materials, contributing to advancements in OLEDs and other optoelectronic devices. The compound's boronic acid group is crucial for its reactivity, making it a valuable tool in various chemical transformations.