Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create biaryl compounds. These compounds are essential in pharmaceuticals, agrochemicals, and material science. It also serves as a building block for designing complex molecules in drug discovery, enabling the development of potential therapeutic agents. Additionally, it is employed in the preparation of sensors and polymers due to its reactive boronic acid group, which can interact with diols and other functional groups.