Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in the pharmaceutical and materials science fields. Its boronate ester group enables efficient cross-coupling reactions, such as Suzuki-Miyaura couplings, which are essential for constructing carbon-carbon bonds in drug development. Additionally, the aldehyde functionality allows for further derivatization, making it valuable in the synthesis of functionalized naphthalene derivatives. These derivatives are often explored for their potential in creating advanced materials, including organic semiconductors and fluorescent probes. Its role in facilitating precise molecular transformations makes it a versatile tool in modern chemical research.