This chemical is primarily utilized in the development of pharmaceutical compounds, particularly as a key intermediate in the synthesis of boron-containing drugs. Its unique structure allows it to act as a potent inhibitor for certain enzymes, making it valuable in the treatment of bacterial and fungal infections. Additionally, it is explored in the creation of anti-inflammatory and anticancer agents due to its ability to modulate specific biological pathways. The compound is also studied in medicinal chemistry for its potential to enhance drug delivery systems, improving the efficacy and targeting of therapeutic agents.