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 facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its boronic acid group is essential for these coupling processes, making it a crucial component in the development of new drugs and bioactive compounds. Additionally, it is employed in the creation of advanced materials and in research focused on designing molecules with specific biological activities.