Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. It is particularly useful in the development of drug candidates targeting specific biological pathways. Additionally, it finds applications in material science for the synthesis of organic electronic materials. Its stability and reactivity make it a versatile reagent in research and industrial settings.