Used primarily in organic synthesis, it serves as a key intermediate for the preparation of various pharmaceuticals and bioactive compounds. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, which are crucial for creating carbon-carbon bonds in drug development. Additionally, it is employed in the design of sensors and diagnostic agents due to its ability to interact with diols and sugars, making it valuable in glucose sensing applications. The compound also finds use in material science for modifying surfaces and creating functionalized polymers. Its versatility in chemical reactions and binding properties makes it a valuable tool in both research and industrial applications.