This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. It is also employed in the development of sensors and probes due to its ability to interact with diols and other functional groups, facilitating applications in biochemical and environmental analysis. Additionally, it serves as an intermediate in the synthesis of more complex organic molecules, contributing to research in medicinal chemistry and material science.