Used in organic synthesis as a key intermediate for the preparation of various bioactive compounds, particularly in the development of pharmaceuticals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in creating complex organic molecules. Additionally, it is employed in the synthesis of boron-containing compounds for potential applications in cancer therapy and drug delivery systems. Its boronic acid group also makes it useful in sensor development for detecting sugars and other analytes.