Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in the pharmaceutical industry. It is often employed in Suzuki-Miyaura cross-coupling reactions, which are critical for constructing carbon-carbon bonds in drug development. Its unique structure, featuring both boronic acid and formyl groups, allows for versatile reactivity, making it valuable in the synthesis of bioactive compounds and advanced materials. Additionally, it is utilized in the development of sensors and probes due to its ability to interact with specific biological targets.