This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. 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 creation of complex biaryl structures. Additionally, it is utilized in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it valuable in biochemical and diagnostic applications.