Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create biaryl compounds essential in pharmaceuticals and agrochemicals. It serves as a key intermediate in the development of drugs targeting various diseases, including cancer and inflammation. Additionally, it is employed in material science for the synthesis of organic electronic materials, such as OLEDs and semiconductors. Its boronic acid group facilitates the formation of stable covalent bonds with diols, making it useful in sensor development for detecting sugars and other biomolecules.