This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It acts as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing complex molecular structures. Additionally, it is employed in the development of sensors and imaging agents due to its ability to interact with specific biological targets. Its applications also extend to research in medicinal chemistry, where it is used to design and synthesize novel drug candidates.