Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create biaryl compounds, which are important in pharmaceuticals and materials science. Acts as a key intermediate in the production of complex molecules, including drugs and agrochemicals. Also employed in the development of sensors and diagnostic tools due to its ability to bind with diols and sugars, making it useful in glucose detection and other biochemical applications. Its boronic acid group facilitates the formation of stable complexes, enhancing its utility in various chemical and biological processes.