Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Additionally, it finds application in the development of boronic acid-based sensors and probes, which are utilized in detecting and quantifying biological and chemical species. Its role in the production of advanced materials, such as polymers and liquid crystals, is also noteworthy, converting to innovations in material science.