Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of more complex molecules, particularly in pharmaceutical research. It is often employed in Suzuki-Miyaura cross-coupling reactions, which are crucial for forming carbon-carbon bonds in the development of potential drug candidates. Its boronic acid group facilitates the coupling process, making it valuable in creating diverse chemical structures for medicinal chemistry applications. Additionally, it may be utilized in the synthesis of agrochemicals and advanced materials, where precise molecular construction is required.