Used in organic synthesis as a key intermediate for Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in the production of complex organic molecules. It is particularly valuable in the pharmaceutical industry for creating bioactive compounds and drug candidates. Additionally, it finds use in material science for developing advanced polymers and organic electronic materials, such as OLEDs. Its boronic acid group allows for selective binding with diols, making it useful in sensor development for detecting sugars and other biomolecules.