Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in creating complex organic molecules. Additionally, it is employed in the development of sensors and diagnostic agents due to its ability to interact with diols and other biologically relevant molecules.