Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of proteasome inhibitors for cancer treatment. Its boronic acid functional group enables reversible binding to enzyme active sites, making it valuable in targeted therapies such as those for multiple myeloma. Commonly employed in Suzuki-Miyaura cross-coupling reactions to construct biaryl frameworks in drug molecules. Also utilized in the preparation of sensors and bioconjugates due to its selective reactivity with diols and amines.