Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of enzyme inhibitors and receptor modulators. It plays a significant role in organic synthesis, especially in Suzuki-Miyaura cross-coupling reactions, which are widely employed to create complex organic molecules. Additionally, it is utilized in the preparation of boronic acid derivatives for sensing applications, such as glucose detection in medical diagnostics. Its ability to form stable complexes with diols and other molecules makes it valuable in the design of molecular probes and sensors for biochemical research.