This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its structure allows for efficient coupling with aryl halides, making it valuable in the production of biaryl compounds. Additionally, it may be used in the development of sensors or probes due to its boronic acid group, which can interact with diols and sugars, offering potential applications in biochemical and analytical chemistry.