This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic compounds, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in constructing biologically active molecules. Additionally, it is employed in the development of sensors and materials due to its ability to interact with diols and other functional groups, facilitating applications in analytical chemistry and material science.