Used as a key intermediate in the synthesis of boron-containing pharmaceuticals, particularly in the development of protease inhibitors. Its unique heterocyclic structure with a boron atom enables selective binding to enzyme active sites, making it valuable in drug discovery for oncology and antiviral therapies. Also employed in asymmetric synthesis due to its chiral boron center, facilitating the production of enantiomerically pure compounds. Additionally, it serves as a building block in materials science for creating novel boron-based polymers with potential applications in optoelectronics.