This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in creating complex organic molecules. Additionally, it finds applications in the development of fluorescent probes and sensors due to its naphthalene structure, which exhibits strong photophysical properties. Its versatility in coupling reactions also makes it useful in polymer chemistry for designing specialized polymers with tailored properties.