Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. This reaction is widely employed in the pharmaceutical industry to create complex molecules for drug development. It also finds application in material science for the synthesis of organic electronic materials and polymers. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in constructing carbon-carbon bonds. Additionally, it is utilized in the preparation of sensors and probes for detecting specific biological molecules due to its ability to form reversible covalent bonds with diols and other functional groups.