Used primarily in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and bioactive compounds. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is essential in the development of complex organic molecules. Additionally, it is employed in the synthesis of sensors and materials for detecting sugars and other diol-containing molecules due to its boronic acid group's affinity for such compounds. Its applications extend to the field of medicinal chemistry, where it is utilized in the design and production of drugs targeting specific diseases.