This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the formation of carbon-carbon bonds, enabling the creation of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of biologically active compounds. Additionally, it is used in material science for designing advanced polymers and functional materials. Its boronic acid group allows for selective binding to diols, making it useful in sensor development for detecting sugars and other analytes.