Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor modulators. It is often employed in Suzuki-Miyaura cross-coupling reactions to create complex biaryl compounds, which are essential in drug discovery and material science. Additionally, it serves as a building block for designing molecules with potential antibacterial, antifungal, and anticancer properties. Its boronic acid group enables it to interact with biological targets, making it valuable in medicinal chemistry research.