Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate to form biaryl compounds. These compounds are essential in the development of pharmaceuticals, agrochemicals, and organic materials. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in constructing complex molecular structures. Additionally, it finds applications in the synthesis of sensors and catalysts due to its ability to interact with various organic and inorganic molecules. Its versatility and reactivity make it a crucial component in advanced chemical research and industrial processes.