Used primarily as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. Its boronic acid group facilitates coupling with aryl or vinyl halides, making it valuable in the development of drug candidates and fine chemicals. Additionally, it is employed in the synthesis of biologically active compounds, including potential treatments for various diseases. Its versatility and reactivity make it a crucial component in modern medicinal chemistry and material science research.