Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and bioactive compounds. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. This compound is also employed in the development of sensors and probes for detecting sugars and other biologically relevant molecules due to its boronic acid group, which interacts with diols. Additionally, it serves as a building block in the synthesis of materials for organic electronics and optoelectronics. Its versatility makes it a crucial component in research and industrial applications.