This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the preparation of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in the development of biologically active compounds. Additionally, it is employed in the synthesis of fluorescent probes and sensors due to its ability to interact with specific analytes, enabling applications in biochemical research and diagnostics.