Used in organic synthesis, particularly as a building block for creating complex molecules. It is valuable in the development of pharmaceuticals, where it serves as an intermediate in the production of active ingredients. Also employed in material science for the synthesis of polymers and coordination compounds, enhancing properties like stability and functionality. Its boronic acid group makes it useful in cross-coupling reactions, which are essential in creating carbon-carbon bonds in organic chemistry. Additionally, it has applications in the development of sensors and diagnostic tools due to its ability to interact with biological molecules.