Used in organic synthesis as a key intermediate for the preparation of various biologically active compounds. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed in the pharmaceutical industry to create complex molecules. Its boronic acid group enables it to act as a coupling partner in these reactions, facilitating the formation of carbon-carbon bonds. Additionally, it is utilized in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it useful in biochemical and analytical applications.