Used as a key intermediate in organic synthesis, particularly in the preparation of biologically active compounds and pharmaceuticals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in drug discovery and material science. Its boronic ester group enhances stability and reactivity, making it suitable for creating complex molecules. Additionally, it is utilized in the development of sensors and probes for detecting specific analytes due to its ability to interact with diols and other functional groups.