Used in organic synthesis as a key intermediate for the preparation of boron-containing compounds, particularly in Suzuki-Miyaura cross-coupling reactions. These reactions are widely employed in the pharmaceutical industry to create complex molecules for drug development. It also serves as a reagent in the synthesis of polymers and advanced materials, where boron-based compounds are essential for their unique properties. Additionally, it is utilized in research for developing new catalytic systems and studying reaction mechanisms involving boron.