Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Additionally, it finds application in the development of sensors and diagnostic agents due to its boronic acid group, which can selectively bind to diols and sugars. This property is exploited in glucose sensing technologies and other biochemical assays. Its versatility also extends to materials science, where it is used in the modification of polymers and the creation of advanced materials with specific functionalities.