This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic compounds, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient carbon-carbon bond formation, making it valuable in the production of biaryl compounds. Additionally, it is utilized in the development of sensors and materials for detecting specific analytes due to its ability to interact with diols and other functional groups. Its stability and reactivity make it a versatile tool in medicinal chemistry and material science research.