This chemical is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key reagent in the preparation of boron-containing compounds, which are valuable in Suzuki-Miyaura cross-coupling reactions. These reactions are essential for constructing complex organic molecules, particularly in drug discovery and material science. Additionally, its hydrazine and boronic acid functional groups make it a versatile building block for developing bioactive molecules and sensors. It is also employed in the synthesis of heterocyclic compounds, which have applications in medicinal chemistry and agrochemicals.