This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate for the formation of carbon-carbon bonds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of sensors and diagnostic tools due to its ability to interact with diols and other biologically relevant molecules. Its stability and reactivity make it a versatile component in research and industrial applications.