Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to create biaryl compounds, which are essential in pharmaceuticals and materials science. It serves as a key intermediate in the production of complex molecules, including drugs and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in medicinal chemistry for developing bioactive compounds. Additionally, it is employed in the synthesis of fluorescent dyes and sensors due to its ability to form stable complexes with diols and other functional groups.