Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) like Naproxen. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for creating complex organic molecules. Additionally, it is employed in the development of advanced materials and organic electronics due to its ability to facilitate precise molecular construction. Its boronic acid group makes it valuable in sensors and diagnostic applications, particularly in detecting sugars and other biologically relevant molecules.