Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, which are widely employed in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic ester group enables efficient coupling with aryl halides, facilitating the creation of complex biaryl structures. Additionally, it serves as a building block in the development of sensors and molecular probes due to its ability to interact with diols and other functional groups, making it valuable in biochemical and analytical applications.