Used in organic synthesis as a key intermediate for the preparation of various biologically active compounds. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed in the pharmaceutical industry to create complex molecules. This compound is also utilized in the development of sensors and probes for detecting specific analytes due to its boronic acid group, which can form reversible covalent bonds with diols and other functional groups. Additionally, it plays a role in the synthesis of materials for organic electronics and advanced polymers.