Used as a key intermediate in the synthesis of boron-containing pharmaceuticals and agrochemicals, particularly in the development of proteasome inhibitors for cancer therapy. Its boronic ester functionality enables selective binding to biological targets, enhancing drug efficacy. Also employed in materials science for creating luminescent sensors due to its ability to form stable complexes with diols and catechols, useful in detecting sugars and neurotransmitters. Commonly applied in Suzuki-Miyaura cross-coupling reactions to build complex aromatic structures in medicinal chemistry.