Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, it serves as a key intermediate for creating complex biaryl compounds. These compounds are essential in pharmaceuticals, agrochemicals, and material science. Its boronic acid group enables efficient coupling with aryl halides, facilitating the production of advanced organic molecules. Additionally, it plays a role in developing organic light-emitting diodes (OLEDs) and other electronic materials due to its ability to form stable conjugated systems. Its applications also extend to sensor technology, where it is utilized in detecting specific analytes through boronic acid-diol interactions.