Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for therapeutic drugs. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. This compound is particularly valuable in medicinal chemistry for creating biologically active compounds, including potential treatments for cancer, neurological disorders, and infectious diseases. Its boronic acid group allows for precise and efficient coupling reactions, making it a critical tool in drug discovery and development processes.