Used in organic synthesis as a key intermediate for the development of pharmaceutical compounds, particularly in the creation of kinase inhibitors that target specific cancer pathways. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, making it valuable for constructing complex molecules in drug discovery. Additionally, it is employed in the design of protease inhibitors, which are crucial for treating diseases like HIV and hepatitis. Its structural features also make it a candidate for research in bioimaging and sensor development due to its ability to interact with biological targets.