Used as a key intermediate in the synthesis of pharmaceuticals, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds. Its carboxylic acid functionality allows for further derivatization or improved solubility in aqueous reaction media. Commonly employed in the development of active pharmaceutical ingredients (APIs) where substituted biaryl structures are needed. Also utilized in the preparation of boron-containing compounds for use in medicinal chemistry and agrochemical research.