This chemical is primarily used as a key intermediate in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group reacts with halides or pseudohalides in the presence of a palladium catalyst, enabling the creation of complex organic molecules. Additionally, it is employed in the development of sensors and molecular recognition systems due to its ability to interact with diols and other functional groups. Its stability and reactivity make it a versatile tool in research and industrial applications.