Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of boron-containing drugs such as proteasome inhibitors. Its structure allows for Suzuki-Miyaura cross-coupling reactions, making it valuable in medicinal chemistry for building complex molecules. The boronic acid group enables binding to biological targets with high specificity, often explored in anticancer and antiviral drug research. Also employed in the preparation of covalent inhibitors due to its ability to form reversible bonds with biomolecules.