This compound is widely used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a versatile building block for the creation of complex molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Its boronic acid group allows for efficient coupling with aryl or vinyl halides, enabling the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of furan derivatives, which are valuable in material science for creating polymers and organic electronic materials. Its stability and reactivity make it a preferred choice for researchers working on fine chemicals and bioactive compounds.