Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the synthesis of biaryl compounds, which are essential in pharmaceuticals, agrochemicals, and organic materials. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in creating complex organic molecules. Additionally, it is employed in the development of active pharmaceutical ingredients (APIs) and in research for drug discovery, particularly in constructing molecules with potential therapeutic properties. Its stability and reactivity also make it suitable for use in polymer chemistry and material science for designing advanced functional materials.