Used in medicinal chemistry as a key intermediate for synthesizing boron-containing compounds that show promise in targeted cancer therapies, particularly in boron neutron capture therapy (BNCT). Its structure allows for selective delivery of boron atoms to tumor cells, enhancing treatment precision. Also employed in the development of enzyme inhibitors due to its ability to mimic transition states in biochemical reactions. Additionally, serves as a building block in the synthesis of novel pharmaceuticals with antimicrobial and anti-inflammatory properties.