This compound is widely used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of complex molecules. Additionally, it is employed in the development of sensors and catalysts due to its ability to form stable complexes with various metals. Its applications also extend to the synthesis of heterocyclic compounds, which are essential in drug discovery and material science.