Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate for creating biaryl structures, which are crucial in pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the production of complex organic molecules. Additionally, it finds application in the development of sensors and diagnostic agents due to its ability to interact with diols and other biologically relevant molecules. The methylsulfonyloxy group enhances its reactivity, making it valuable in modifying polymers and materials for advanced technological applications.