This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate to form carbon-carbon bonds. Its boronic acid group enables it to couple with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is utilized in the development of sensors and probes for detecting specific biological molecules due to its ability to interact with diols and other functional groups. Its applications also extend to research in medicinal chemistry, where it is employed in the design and synthesis of bioactive compounds.