This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides, making it valuable in pharmaceutical and material science research. Additionally, it is employed in the development of fluorescent probes and sensors due to its ability to interact with specific biological targets. Its structural properties also make it suitable for use in the synthesis of advanced polymers and agrochemicals.