Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of enzyme inhibitors and receptor antagonists. 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 production of advanced materials, such as organic semiconductors and liquid crystals, due to its ability to modify electronic properties. Additionally, it serves as a building block in the creation of functionalized polymers and coatings, enhancing their performance and stability. Its boronic acid group makes it valuable in sensing applications, particularly for detecting sugars and other diol-containing compounds.