This compound is primarily utilized in the field of medicinal chemistry, particularly in the development of boron-containing drugs. Its unique structure allows it to act as a key intermediate in the synthesis of various therapeutic agents, especially those targeting bacterial and fungal infections. The compound's boron moiety plays a critical role in inhibiting specific enzymes, making it valuable for creating antibiotics and antifungal medications. Additionally, it is explored for its potential in cancer therapy, where it can be used to design inhibitors that target tumor growth pathways. Its applications also extend to material science, where it is investigated for use in organic electronic devices due to its stable and reactive boronic acid group.