Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of complex organic molecules, particularly in pharmaceuticals. Its boronic acid group facilitates the formation of carbon-carbon bonds, enabling the creation of biaryl structures found in many active drug ingredients. Additionally, it is employed in the development of materials for organic electronics, where precise molecular architecture is crucial for performance. Its stability and reactivity make it a valuable tool in medicinal chemistry for constructing diverse chemical libraries.