Used primarily in organic synthesis, this compound serves as a key reagent in Suzuki-Miyaura cross-coupling reactions, facilitating the formation of carbon-carbon bonds. It is particularly valuable in the pharmaceutical industry for constructing complex molecules, including drug intermediates. Additionally, it finds application in material science for developing advanced polymers and coatings. Its boronic acid group enables selective binding with diols, making it useful in biochemical assays and sensor technologies for detecting sugars and other diol-containing compounds.