Used primarily in organic synthesis, this compound serves as a key intermediate in the development of pharmaceuticals, particularly in the creation of drugs targeting neurological disorders. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex molecules. Additionally, it plays a role in the synthesis of bioactive compounds and materials for medicinal chemistry research. Its structural features make it valuable in designing molecules with specific binding properties, particularly in drug discovery and development.