Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It is often employed in Suzuki-Miyaura cross-coupling reactions to create complex organic molecules, including bioactive compounds. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in the development of drugs targeting various diseases. Additionally, it can be utilized in the synthesis of materials for organic electronics and sensors due to its ability to modify molecular structures effectively.