Used in organic synthesis as a key reagent for Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex molecules. It is particularly valuable in pharmaceutical research for constructing biaryl compounds, which are common in drug development. Additionally, it serves as a boronic acid derivative in sensor applications, aiding in the detection of sugars and other analytes. Its stability and reactivity make it a versatile tool in medicinal chemistry and material science.