Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and bioactive compounds. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex molecules. Its boronic acid group facilitates the development of targeted drugs, especially in cancer therapy and enzyme inhibition. Additionally, it is employed in the synthesis of sensors and probes for detecting biological molecules due to its ability to interact with diols and other functional groups. Its versatility makes it valuable in medicinal chemistry and materials science.