Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create complex biaryl compounds, which are important in pharmaceuticals and materials science. Acts as a key intermediate in the production of drugs, agrochemicals, and organic electronic materials. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for constructing carbon-carbon bonds. Also employed in the development of sensors and diagnostic tools due to its ability to bind with diols and sugars, enhancing applications in biochemistry and medical diagnostics.