Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its boronic acid functional group enables participation in Suzuki-Miyaura cross-coupling reactions, making it valuable in constructing biaryl structures found in bioactive molecules. Also employed in the preparation of proteasome inhibitors, including those related to bortezomib-type drugs used in multiple myeloma therapy. Additionally, it serves as a building block in medicinal chemistry for optimizing drug candidates through structure-activity relationship studies.