This compound is widely utilized in organic synthesis, particularly as a key reagent in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in creating complex organic molecules. Additionally, it serves as a building block in the development of sensors and diagnostic tools due to its ability to interact with diols and sugars, making it useful in glucose sensing applications. It is also employed in the preparation of boron-containing polymers and materials for various industrial applications.