Used as a key reagent in Suzuki-Miyaura cross-coupling reactions, enabling the synthesis of biaryl compounds, which are important in pharmaceuticals and organic materials. It serves as a boronic acid derivative in the preparation of complex organic molecules, particularly in drug discovery and development. Its role in forming carbon-carbon bonds makes it valuable in creating biologically active compounds and advanced materials. 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.