Used in pharmaceutical research as a key intermediate in the synthesis of boron-containing compounds, particularly in the development of proteasome inhibitors for cancer therapy. Its boronic acid functionality enables reversible binding to biological targets, making it valuable in designing enzyme inhibitors. Also explored in medicinal chemistry for its potential in targeted drug delivery due to enhanced selectivity and stability. Additionally, serves as a building block in Suzuki-Miyaura cross-coupling reactions for creating biaryl structures in drug discovery.