Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of enzyme inhibitors and receptor modulators. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is often utilized in medicinal chemistry research for designing and optimizing drug candidates targeting various diseases, including cancer and neurological disorders. Its boronic acid group facilitates interactions with biological targets, making it valuable in the creation of bioactive molecules.