Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure enables selective binding to biological targets, making it valuable in medicinal chemistry for drug discovery. Commonly employed in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds, it facilitates the construction of complex heterocyclic systems found in bioactive molecules. Also utilized in the design of sensors and functional materials due to its ability to interact with diols and other Lewis bases.