Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of drugs targeting inflammation and cancer. Its boronic acid group is essential in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also employed in the development of sensors and diagnostic agents due to its ability to selectively bind with diols and sugars, making it valuable in glucose monitoring systems. Additionally, it plays a role in materials science for creating advanced polymers and coatings with specific functional properties.