Used in organic synthesis as a versatile building block, particularly in Suzuki-Miyaura cross-coupling reactions to form biaryl compounds. Its boronic ester group facilitates efficient coupling with aryl halides, making it valuable in pharmaceutical and material science research. Also employed in the development of sensors and probes due to its ability to interact with diols and sugars, enabling applications in bioanalytical chemistry. Additionally, it serves as an intermediate in the preparation of complex molecules for drug discovery and agrochemicals.