Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create biaryl compounds, which are essential in pharmaceuticals and agrochemicals. Acts as a key intermediate in the production of active pharmaceutical ingredients (APIs) and fine chemicals. Also employed in material science for developing organic electronic materials and polymers. Its boronic acid group enables it to form stable complexes with diols, making it useful in sensor development for detecting sugars and other biomolecules.