Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex molecules. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in pharmaceutical research for creating drug candidates. Additionally, it is employed in material science for developing advanced polymers and functional materials. Its hydroxyl group further enhances reactivity, allowing for modifications in various chemical processes. This compound is also explored in the development of sensors and diagnostic tools due to its ability to interact with specific biological targets.