Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals, particularly in Suzuki-Miyaura cross-coupling reactions. This chemical is essential for creating complex organic molecules, often employed in the development of drugs targeting cancer, inflammation, and other diseases. Additionally, it finds application in material science, aiding in the synthesis of advanced polymers and organic electronic materials. Its boronic acid group makes it valuable in sensor technologies, particularly for detecting sugars and other biologically relevant molecules.