This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, facilitating the construction of complex molecular structures. Additionally, it finds application in the development of sensors and diagnostic tools due to its ability to interact selectively with specific biological molecules. Its stability and reactivity make it a valuable component in research and industrial processes aimed at creating novel compounds with tailored properties.