Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also utilized in the preparation of biologically active compounds for research in medicinal chemistry. Its boronic acid group enhances its reactivity, making it valuable in designing targeted drug delivery systems and diagnostic agents.