This compound is primarily utilized in organic synthesis as a building block for the creation of more complex molecules. Its boronic acid group makes it a valuable reagent in Suzuki-Miyaura cross-coupling reactions, which are widely used to form carbon-carbon bonds in the production of pharmaceuticals, agrochemicals, and organic materials. Additionally, it can serve as an intermediate in the development of bioactive compounds, particularly in medicinal chemistry, where furan derivatives are often explored for their potential therapeutic properties. Its unique structure also allows for applications in the design of sensors and catalysts, leveraging its ability to interact with various organic and inorganic substrates.