This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and bioactive molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid coupling partner to form carbon-carbon bonds, enabling the synthesis of complex organic compounds. Its application extends to the development of drugs targeting specific diseases, including cancer and inflammation, due to its ability to introduce functional groups into aromatic systems. Additionally, it is employed in the creation of advanced materials and polymers, where its boronic acid moiety can participate in reversible interactions, useful in designing responsive or self-healing materials.