Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. This compound is also employed in the development of boron-containing compounds, which have applications in medicinal chemistry for drug discovery and development. Additionally, it serves as a building block in the synthesis of fluorescent dyes and materials for organic electronics. Its stability and reactivity make it a versatile reagent in research and industrial processes.