This chemical is primarily used in organic synthesis and pharmaceutical research, particularly in the development of new drugs. It serves as a key intermediate in the synthesis of complex molecules, especially those involving Suzuki-Miyaura cross-coupling reactions. These reactions are crucial for forming carbon-carbon bonds, which are foundational in creating active pharmaceutical ingredients (APIs). Additionally, its boronic acid group makes it valuable in the preparation of proteasome inhibitors and other biologically active compounds. Its application extends to the study of enzyme inhibition and the development of targeted therapies for diseases such as cancer.