Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create biaryl compounds. These compounds are essential in pharmaceuticals, agrochemicals, and material science. It also serves as a building block in the development of sensors and probes for detecting biological molecules. Its boronic acid group enables it to form stable complexes with diols, making it useful in carbohydrate recognition and glycobiology research. Additionally, it plays a role in the synthesis of fluorescent dyes and advanced polymers.