Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the production of complex organic molecules. This compound is also utilized in the development of sensors and diagnostic agents due to its boronic acid group, which can selectively bind to diols and sugars. Its applications extend to materials science, where it contributes to the creation of advanced polymers and coatings.