This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate for constructing complex biaryl structures. 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 probes due to its ability to interact with diols and other functional groups, facilitating applications in analytical chemistry and biochemical research. Its unique structure also makes it a potential candidate for studying enzyme inhibition and drug discovery processes.