Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of enzyme inhibitors and receptor modulators. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, facilitating the formation of carbon-carbon bonds in complex organic molecules. This compound is also employed in the preparation of boron-containing compounds for cancer therapy and diagnostic agents. Additionally, it finds application in materials science for the creation of advanced polymers and coatings with specific functional properties. Its boronic acid group makes it valuable in sensor technologies for detecting sugars and other biologically relevant molecules.