Primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound acts as a key intermediate for constructing complex molecules. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of sensors and probes due to its ability to interact with specific biological targets. Its stability and reactivity make it a versatile tool in medicinal chemistry for designing drug candidates and studying biochemical pathways.