Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of protease inhibitors and other therapeutic agents. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in organic synthesis. This compound is also utilized in the preparation of boron-containing materials for optoelectronic applications. Additionally, it serves as a building block in the creation of sensors and probes for detecting biological molecules due to its boronic acid functionality.