Used in organic synthesis as a building block for creating complex molecules, particularly in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in pharmaceuticals and advanced materials. It serves as a boronic ester reagent, enabling the introduction of aryl groups into target compounds. This chemical is also employed in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it useful in biochemical and diagnostic applications. Additionally, it finds utility in the preparation of intermediates for agrochemicals and dyes.