Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is particularly valuable in the development of drugs targeting cancer, inflammation, and central nervous system disorders. Additionally, it is employed in materials science for the synthesis of organic electronic materials, such as polymers and small molecules, which are used in OLEDs and other optoelectronic devices. Its boronic acid group also makes it useful in sensor development for detecting sugars and other analytes.