Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create biaryl compounds, which are essential in pharmaceuticals, agrochemicals, and materials science. It also serves as a building block in the development of sensors and catalysts due to its boronic acid group, which can selectively bind to diols and other functional groups. Additionally, it is employed in the preparation of advanced polymers and coatings, enhancing their stability and performance.