This compound is primarily utilized in organic synthesis and pharmaceutical research due to its boronic acid functional group, which is highly effective in Suzuki-Miyaura cross-coupling reactions. These reactions are pivotal for constructing carbon-carbon bonds, enabling the synthesis of complex organic molecules, including potential drug candidates. Additionally, its methoxybenzyl group can enhance solubility and stability, making it suitable for use in various reaction conditions. The compound is also explored in the development of sensors and diagnostic tools, as boronic acids can selectively bind to diols and sugars, allowing for the detection of biological molecules. Its applications extend to material science, where it is used in the preparation of advanced polymers and coatings.