Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex organic compounds. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals. The compound is also utilized in the development of liquid crystals, which are essential for display technologies like LCDs. Additionally, it plays a role in the preparation of polymers and materials with specific electronic or optical properties. Its boronic acid group enables selective binding to diols, making it useful in sensor applications for detecting sugars or other biomolecules.