Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and biologically active compounds. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the production of complex organic molecules. This compound is also utilized in the development of materials for organic electronics and sensors due to its boronic acid group, which can interact with diols and other functional groups. Its applications extend to research in medicinal chemistry, where it aids in the creation of potential drug candidates targeting diseases such as cancer and inflammation.