This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for creating biaryl structures, which are common in drug development. Additionally, it can be used in material science for designing advanced polymers or organic electronic materials due to its ability to introduce aromatic furan moieties into larger molecular frameworks.