Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of more complex molecules. It is particularly valuable in cross-coupling reactions, such as Suzuki-Miyaura coupling, where it facilitates the formation of carbon-carbon bonds. Its boronic acid group is essential for attaching to various aryl or vinyl halides, making it useful in the development of pharmaceuticals and agrochemicals. Additionally, it plays a role in the synthesis of heterocyclic compounds, which are often found in active pharmaceutical ingredients. Its stability and reactivity make it a preferred choice for researchers working on drug discovery and material science.