Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting cancer and inflammatory diseases. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also employed in the production of advanced materials and agrochemicals, where its boronic acid group facilitates precise molecular modifications. Additionally, it is utilized in research for developing diagnostic agents and imaging probes due to its ability to interact with biological targets selectively.