Used as a chiral derivatizing agent in asymmetric synthesis, particularly in the resolution and analysis of enantiomeric mixtures. Its boron-containing heterocyclic structure enables coordination with nucleophiles, making it valuable in catalytic cycles for stereoselective transformations. Commonly applied in the pharmaceutical industry to control stereochemistry during the synthesis of bioactive molecules. Also serves as a building block in the development of boron-based sensors and functional materials due to its stability and reactivity profile.