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 finds use in the development of sensors and probes due to its ability to interact with diols and other biologically relevant molecules, aiding in the detection of sugars and other analytes. Its stability and reactivity under mild conditions make it a versatile tool in both academic research and industrial applications.