Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor modulators. It plays a significant role in cross-coupling reactions, such as Suzuki-Miyaura reactions, which are essential for creating complex organic molecules in drug discovery. Additionally, it is employed in the preparation of boron-containing compounds for cancer therapy and other medical applications. Its boronic acid group enables it to act as a versatile building block in medicinal chemistry.