This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of kinase inhibitors. These inhibitors are crucial in targeting specific enzymes involved in cell signaling pathways, making it valuable in cancer therapy research. Additionally, its boronic acid group enables its use in Suzuki-Miyaura cross-coupling reactions, a widely employed method for forming carbon-carbon bonds in complex organic molecules. This makes it a versatile tool in medicinal chemistry for creating novel drug candidates. Its structural features also allow for potential applications in the design of sensors or probes for detecting specific biomolecules.