Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex biaryl compounds. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals. The compound is also employed in the development of materials for organic electronics, such as OLEDs and sensors. Its boronic ester group enables selective binding to diols, making it useful in carbohydrate recognition and sensing applications. Additionally, it plays a role in the synthesis of polymers and advanced materials with specific functional properties.