This compound is primarily utilized in organic synthesis as a versatile building block, particularly in cross-coupling reactions. It plays a significant role in the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group is key in Suzuki-Miyaura coupling reactions, which are widely employed in the production of biaryl compounds. Additionally, it can be used in the development of sensors and materials due to its ability to interact with diols and other functional groups. Its stability and reactivity make it a valuable reagent in both academic research and industrial applications.