Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of drugs targeting central nervous system disorders. It is also employed in cross-coupling reactions, such as Suzuki-Miyaura reactions, to create complex organic molecules for use in medicinal chemistry and material science. Additionally, it serves as a building block in the production of agrochemicals, contributing to the development of new pesticides and herbicides. Its boronic acid group makes it valuable in the preparation of sensors and diagnostic agents, particularly for detecting sugars and other biologically relevant molecules.