Used in organic synthesis as a key intermediate for the preparation of complex molecules, particularly in Suzuki-Miyaura cross-coupling reactions. This reaction is widely employed in the pharmaceutical industry to create carbon-carbon bonds, enabling the synthesis of various bioactive compounds and drug candidates. Additionally, it finds application in material science for the development of organic electronic materials and polymers. Its boronic acid group is instrumental in forming stable complexes with diols, making it useful in sensor technologies for detecting sugars and other diol-containing molecules.