Used primarily in organic synthesis, it serves as a key intermediate in the preparation of various pharmaceuticals. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in drug development. Additionally, it is employed in the synthesis of proteasome inhibitors, which are significant in cancer therapy. The Boc protecting group allows for selective deprotection, making it versatile in multi-step synthetic processes. It also finds applications in the creation of sensors and molecular recognition systems due to its ability to interact with diols and other functional groups.