Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor antagonists. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex molecules. This compound is also utilized in the production of boron-containing compounds for cancer research and drug discovery, aiding in the design of targeted therapies. Additionally, it is employed in the synthesis of fluorescent probes and sensors for biochemical applications, facilitating the detection and analysis of biological molecules.