Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. These reactions are essential for constructing complex molecules, especially in pharmaceuticals and agrochemicals. The boronic acid group enables the formation of carbon-carbon bonds, while the halogen substituents (bromo and iodo) allow for further functionalization. This compound is valuable in developing drug candidates and fine chemicals due to its versatility in forming biaryl structures, which are common in bioactive molecules. Its role in medicinal chemistry is significant for creating compounds with potential therapeutic applications.