Used in organic synthesis as a key intermediate for the preparation of pharmaceuticals, particularly in the development of protease inhibitors and other therapeutic agents. It plays a role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex 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 application in biochemical research for labeling and modifying biomolecules.