Used in medicinal chemistry as a key intermediate for synthesizing boron-containing drugs, particularly in the development of proteasome inhibitors for cancer therapy. Its boronic acid group enables reversible binding to active site residues in enzymes, making it valuable in designing inhibitors for serine proteases. Also employed in Suzuki-Miyaura cross-coupling reactions for constructing biaryl frameworks in pharmaceuticals. Soluble in polar solvents, which facilitates its use in aqueous reaction conditions common in drug synthesis.