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 and agrochemicals. The boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules. It is also utilized in the development of sensors and materials for detecting specific analytes due to its ability to interact with diols and other functional groups. Additionally, its structural features make it suitable for research in medicinal chemistry, where it is explored for potential therapeutic applications.