This compound is primarily utilized in organic synthesis and medicinal chemistry as a versatile building block. It is often employed in the development of boron-containing molecules, particularly in the synthesis of proteasome inhibitors and other bioactive compounds. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, a key method for forming carbon-carbon bonds in drug discovery and material science. Additionally, its amidoxime moiety makes it valuable in the design of enzyme inhibitors, especially those targeting metalloproteases and histone deacetylases, which are relevant in cancer therapy and other diseases. Its dual functionality allows for the creation of complex molecules with potential therapeutic applications.