Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various drug candidates. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex organic molecules. This makes it valuable in the production of potential therapeutic agents, particularly in oncology and neurology. Additionally, its structural features allow for the exploration of novel bioactive compounds, aiding in the discovery of new treatments for diseases.