Used as a key reagent in Suzuki-Miyaura cross-coupling reactions, facilitating the synthesis of biaryl compounds in pharmaceutical and material science research. It acts as a boronic acid derivative in organic synthesis, enabling the formation of carbon-carbon bonds. Additionally, it serves as a building block in the development of sensors for detecting sugars and other diol-containing molecules due to its ability to form reversible covalent bonds with diols. It is also employed in the preparation of advanced materials, such as polymers and metal-organic frameworks, for applications in catalysis and molecular recognition.