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 acts as a coupling partner with aryl or vinyl halides, facilitating the synthesis of biaryl compounds, which are essential in pharmaceuticals, agrochemicals, and materials science. Additionally, it is employed in the development of sensors and molecular recognition systems due to its ability to interact with diols and other functional groups. Its applications also extend to the preparation of advanced polymers and liquid crystals, contributing to innovations in electronics and display technologies.