Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound acts as a key intermediate in the synthesis of complex organic molecules, particularly in pharmaceutical development. It facilitates the formation of carbon-carbon bonds, enabling the creation of various bioactive compounds and drug candidates. Additionally, it is employed in materials science for the preparation of advanced polymers and organic electronic materials. Its boronic acid group allows for selective binding to diols, making it useful in sensor technologies for detecting sugars and other biomolecules.