This compound is primarily utilized in organic synthesis and pharmaceutical research due to its boronic acid functional group, which is highly effective in Suzuki-Miyaura cross-coupling reactions. These reactions are pivotal for forming carbon-carbon bonds, enabling the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as a key intermediate in the development of bioactive compounds, particularly in the creation of drugs targeting various diseases. Its ability to interact with diols and other functional groups also makes it useful in the design of sensors and diagnostic agents, particularly for detecting sugars and other biologically relevant molecules.