Used as a key intermediate in the synthesis of antibiotics, particularly in the production of carbapenem-class antibiotics like meropenem and ertapenem. It serves as a building block for constructing the core structure of these drugs due to its ability to form stable boron-containing intermediates that facilitate coupling reactions. Its phenolic hydroxyl groups also allow for selective protection and deprotection during multi-step syntheses. Additionally, it finds use in Suzuki-Miyaura cross-coupling reactions in medicinal chemistry for developing bioactive molecules. Furthermore, it is employed in the development of sensors for detecting sugars or biomolecules, as the boronic acid group enables specific binding with diols.