This chemical 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 functionality enables it to couple with aryl halides in the presence of a palladium catalyst, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of sensors and molecular recognition systems due to its ability to interact with diols and other functional groups. The presence of anhydride may influence its reactivity, making it suitable for specific applications where modified reactivity or solubility is required.