Used primarily in organic synthesis, this compound serves as a key intermediate in cross-coupling reactions, such as Suzuki-Miyaura coupling, to form carbon-carbon bonds. It is valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables selective reactions with organic halides or pseudohalides, making it essential for constructing complex molecular structures. Additionally, it finds applications in the development of sensors and catalysts due to its ability to interact with diols and other functional groups.