Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and bioactive compounds. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, facilitating the formation of carbon-carbon bonds, which is crucial in drug discovery and development. Additionally, it is employed in the synthesis of boron-containing molecules for potential use in cancer therapy and as enzyme inhibitors. Its boronic acid group makes it valuable in sensing applications, particularly for detecting and quantifying sugars and other diol-containing molecules.