Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create biaryl compounds, which are essential in pharmaceuticals and agrochemicals. It also plays a role in the development of sensors and diagnostic tools due to its ability to bind with diols and other biomolecules. Additionally, it is utilized in the production of advanced materials and polymers, contributing to the creation of high-performance coatings and adhesives. Its boronic acid group makes it valuable in research for studying enzyme inhibition and drug discovery.