Used in organic synthesis as a versatile building block, particularly in Suzuki-Miyaura cross-coupling reactions, which are essential for creating carbon-carbon bonds in pharmaceuticals and advanced materials. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs), enabling the development of drugs targeting various diseases. Its boronic ester group is crucial for its role in bioconjugation and molecular recognition, making it valuable in medicinal chemistry and drug discovery. Additionally, it finds applications in the development of sensors and diagnostic tools due to its ability to interact with diols and other biomolecules.