This chemical is widely used as a building block in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a key intermediate in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial for creating complex molecular structures. Additionally, it finds application in the development of biologically active compounds, including potential drug candidates targeting various diseases. Its boronic acid group makes it valuable in the design of enzyme inhibitors and receptor modulators, contributing to advancements in medicinal chemistry.