This chemical is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a crucial intermediate in the production of various pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura coupling reactions, which are essential for forming carbon-carbon bonds in complex organic molecules. This makes it valuable in the development of drugs and other bioactive compounds. Additionally, it is used in research and development for creating novel chemical entities with potential therapeutic applications.