Used in organic synthesis as a key intermediate for Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex molecules. It is particularly valuable in pharmaceutical research for constructing heterocyclic compounds, which are essential in drug development. Additionally, it finds application in material science for creating advanced organic materials with tailored properties. Its boronic acid group allows for selective binding to diols, making it useful in sensor development and carbohydrate recognition.