Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting various diseases. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also employed in the production of advanced materials, such as polymers and liquid crystals, due to its boronic acid functionality. Additionally, it finds applications in sensor development, where it acts as a recognition element for detecting sugars and other biologically relevant molecules. Its versatility makes it valuable in both industrial and academic research settings.