This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex molecules. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of sensors and diagnostic agents due to its ability to interact with diols and other biological molecules, facilitating the detection of specific analytes. Its role in medicinal chemistry is notable, as it contributes to the creation of targeted drug candidates with enhanced efficacy and selectivity.