Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds. Additionally, it is employed in the development of sensors and diagnostic agents due to its ability to interact with diols and other functional groups. The formyl group further enhances its reactivity, making it valuable in the construction of complex molecular structures.