This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key reagent for forming carbon-carbon bonds. It is also employed in the development of sensors and diagnostic tools due to its ability to bind with diols and sugars, making it useful in glucose detection systems. Additionally, it finds applications in the preparation of pharmaceutical intermediates and in materials science for creating functionalized polymers and coatings. Its boronic acid group enables it to serve as a versatile building block in various chemical and biochemical research applications.