Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is also employed in the development of boron-containing drugs, where its boronic acid group plays a crucial role in targeting specific biological pathways. Additionally, it serves as a building block in the synthesis of materials for organic electronics and sensors due to its ability to interact with other functional groups.