Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of angiotensin II receptor antagonists for treating hypertension. Its tetrazole and boronic acid functional groups enable participation in Suzuki-Miyaura cross-coupling reactions, making it valuable in medicinal chemistry for constructing biaryl structures. Also employed in the preparation of bioactive molecules and ligands in catalysis due to its ability to form stable complexes with metals.