Used in organic synthesis as a key intermediate for the preparation of pharmaceuticals, particularly in the development of enzyme inhibitors and receptor modulators. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex molecules. This compound is also employed in the creation of bioactive compounds for cancer research and treatment. Its boronic acid group facilitates interactions with biological targets, making it valuable in drug discovery and medicinal chemistry. Additionally, it is utilized in the development of sensors and diagnostic agents due to its ability to bind selectively to specific molecules.