Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to form biaryl compounds, which are essential in pharmaceuticals and agrochemicals. Its boronate ester group facilitates the creation of complex organic molecules, making it valuable in drug discovery and development. Additionally, it serves as a building block for synthesizing fluorescent dyes and sensors due to its aldehyde functionality, which can be further modified for specific applications in material science and bioimaging.