Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create biaryl compounds. These compounds are essential in pharmaceuticals, agrochemicals, and material science. It serves as a key intermediate in the production of complex organic molecules, including drugs and polymers. Additionally, it is employed in the development of sensors and catalysts due to its boronic acid functional group, which can interact with diols and other molecules. Its role in forming carbon-carbon bonds makes it valuable in constructing diverse chemical structures for research and industrial applications.