This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction, where it acts as a key intermediate for forming carbon-carbon bonds. Its boronic acid group enables it to participate in these reactions, making it valuable for creating complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of sensors and bioactive compounds due to its ability to interact with various biological targets. The presence of the anhydride component can influence its reactivity, making it suitable for specific catalytic processes or functionalization reactions in advanced material synthesis.