Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is particularly valuable in the development of drug candidates, where it helps introduce specific functional groups into target molecules. Additionally, it is employed in the production of advanced materials, such as polymers and sensors, due to its ability to interact with other organic and inorganic compounds. Its boronic acid group also makes it useful in biochemical applications, including the design of enzyme inhibitors and probes for detecting sugars or other biomolecules.