Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of proteasome inhibitors like bortezomib, which is employed in cancer therapy for treating multiple myeloma and mantle cell lymphoma. Its boronic acid functional group enables reversible binding to active site residues in enzymes, making it valuable in designing enzyme inhibitors. Also utilized in Suzuki-Miyaura cross-coupling reactions as a building block in medicinal chemistry for constructing biaryl compounds. Its structural properties support the development of bioactive molecules with enhanced selectivity and potency.