Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor antagonists. It is also employed in the synthesis of boron-containing compounds for cancer therapy, leveraging its ability to form stable complexes with biological targets. Additionally, it plays a role in Suzuki-Miyaura cross-coupling reactions, a widely used method for creating carbon-carbon bonds in drug discovery and material science. Its boronic acid group enables it to act as a sensor or probe in biochemical assays, particularly for detecting sugars and other diol-containing molecules.