Used primarily in organic synthesis, it serves as a key intermediate in the preparation of complex molecules, particularly in pharmaceutical research. It is commonly employed in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds, enabling the creation of biaryl compounds. These compounds are often explored for their potential therapeutic properties, such as anticancer or antimicrobial activity. Additionally, it is utilized in the development of advanced materials, including organic electronic components, due to its ability to facilitate precise molecular design. Its boronic acid group also makes it valuable in sensing applications, where it can interact with diols and sugars for analytical purposes.