Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and biologically active compounds. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. This chemical is also employed in the development of sensors and diagnostic agents due to its boronic acid group, which can selectively bind to diols and sugars. Additionally, it finds application in material science for modifying surfaces and creating functionalized polymers. Its versatility makes it a crucial component in research and industrial processes.