Used in organic synthesis as a building block for creating more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the preparation of boron-containing compounds, which are valuable in Suzuki-Miyaura cross-coupling reactions, a widely used method in drug discovery and material science. Its boronic acid group enables it to act as a ligand or catalyst in various chemical transformations. Additionally, it is employed in the design of sensors and probes for detecting biological molecules due to its ability to form reversible covalent bonds with diols and other functional groups.