This chemical is widely used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are essential for constructing complex organic molecules, including active pharmaceutical ingredients (APIs). It is also employed in the development of sensors and materials due to its ability to form stable complexes with various organic and inorganic compounds. Additionally, its unique structure allows for the creation of compounds with specific biological activities, making it useful in drug discovery and development processes.