Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of angiotensin II receptor antagonists like valsartan and related drugs for treating hypertension. Its boronic acid group enables Suzuki-Miyaura cross-coupling reactions, making it valuable in forming carbon-carbon bonds during drug development. Also employed in the preparation of biologically active compounds and functional materials where precise molecular structure is critical. Its hydroxymethyl and chloro substituents allow further chemical modifications, enhancing versatility in synthetic pathways.