Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it helps form carbon-carbon bonds to create complex molecules. Its boronic acid group makes it highly reactive and suitable for constructing biologically active compounds, including potential drug candidates for treating diseases like cancer and inflammation. Additionally, it is employed in the development of materials science applications, such as organic electronic devices.