Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. It is also employed in the preparation of agrochemicals, aiding in the creation of compounds that enhance crop protection. Additionally, it plays a role in organic synthesis, facilitating the formation of complex molecules through Suzuki-Miyaura cross-coupling reactions. Its boronic acid group is essential for forming carbon-carbon bonds, making it valuable in material science for creating advanced polymers and electronic materials.