Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceutical compounds. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, which are essential for creating complex organic molecules, including drugs and agrochemicals. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the development of bioactive molecules and materials. Additionally, it is utilized in the synthesis of sensors and molecular probes due to its ability to interact with specific biological targets.