Used in organic synthesis as a building block for pharmaceuticals, particularly in the development of proteasome inhibitors like bortezomib, which is employed in cancer therapy. Its boronic acid functional group enables reversible interactions with biological targets containing diols or active serine residues, making it valuable in medicinal chemistry. Also utilized in Suzuki-Miyaura cross-coupling reactions to construct biaryl frameworks in drug discovery and in the design of sensors for carbohydrates due to its affinity for diol-containing molecules.