Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of enzyme inhibitors and receptor antagonists. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also utilized in the preparation of boron-containing compounds for cancer therapy and diagnostic imaging. Its boronic acid group makes it valuable in bioconjugation and sensing applications, particularly in detecting sugars and other biologically relevant molecules. Additionally, it is employed in the research and development of new materials for organic electronics and optoelectronics.