Used as a key intermediate in the synthesis of pharmaceuticals and organic compounds, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds between aromatic compounds and alkyl or aryl halides. Its boronic acid group enables efficient coupling, making it valuable in drug development and medicinal chemistry for preparing biaryl compounds, which are structural motifs in many active pharmaceutical ingredients. The propoxycarbonyl group at the 3-position enhances compatibility with organic solvents and can serve as a temporary protecting group in multi-step syntheses. Also utilized in the design of sensors, functional materials, and electronics due to its reactivity and stability in aqueous and organic media.