Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Additionally, it finds application in the development of sensors and diagnostic agents due to its ability to interact with diols and sugars, making it useful in glucose sensing technologies. Its boronic acid group also allows for its use in materials science, particularly in the creation of advanced polymers and coatings with specific functional properties.