This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key reagent for forming carbon-carbon bonds. Its boronic acid group enables it to couple with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Additionally, it can be employed in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it useful in biochemical and analytical applications. Its stability and reactivity also make it a suitable candidate for research in medicinal chemistry, particularly in the design of bioactive compounds.