This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Additionally, it is employed in the synthesis of advanced materials and functional polymers, contributing to innovations in material science. Its boronic acid group enables selective binding to diols, making it useful in biochemical applications like sensor development and carbohydrate recognition.