This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for creating complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl or vinyl halides, making it valuable for constructing biaryl structures. Additionally, it finds applications in material science for designing advanced organic materials with specific electronic or optical properties. Its pyridine and furan moieties contribute to its versatility in forming diverse chemical structures.