Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the development of complex organic molecules. Its boronic acid group allows for efficient coupling with aryl halides, making it valuable in the production of biologically active compounds. Additionally, it is utilized in the synthesis of sensors and materials for detecting specific analytes due to its ability to interact with diols and other functional groups.