This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key reagent for forming carbon-carbon bonds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of sensors and probes for detecting sugars and other analytes due to its ability to form reversible complexes with diols. Its application extends to materials science, where it is used in the preparation of functionalized polymers and advanced materials.