This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drugs and bioactive compounds. Additionally, it is utilized in material science for the synthesis of advanced polymers and organic electronic materials. Its boronic acid group makes it valuable for forming stable covalent bonds with diols, enabling applications in sensor development and molecular recognition systems.