This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a key reagent for forming carbon-carbon bonds. Its boronic acid functional group enables it to couple with aryl or vinyl halides, making it valuable in the production of complex organic molecules, including pharmaceuticals and advanced materials. Additionally, it is employed in the development of sensors and diagnostic tools due to its ability to interact with diols and other organic compounds, facilitating the detection of specific biological molecules. Its application in material science includes the creation of organic electronic devices, where it contributes to the synthesis of conductive polymers and other functional materials.