Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological disorders and cancer. 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 preparation of bioactive compounds and materials for organic electronics. Its boronic acid group facilitates selective binding to diols, making it useful in sensor development for detecting sugars and other biomolecules. Additionally, it is utilized in research for creating advanced materials with potential applications in catalysis and molecular recognition.