This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex organic molecules. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl compounds, which are essential in pharmaceuticals, agrochemicals, and materials science. Additionally, it is employed in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it valuable in biochemical and analytical applications. Its role in medicinal chemistry is also notable, as it contributes to the synthesis of potential drug candidates targeting various diseases.