Used as a key intermediate in the synthesis of antifungal agents, particularly in the production of fluconazole and related triazole antifungals. Its boron-containing structure enables selective reactivity in cross-coupling reactions, making it valuable in pharmaceutical development. It is also employed in the preparation of boronic ester derivatives for use in Suzuki-Miyaura coupling reactions, which are widely applied in drug discovery and the creation of complex organic molecules.