This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. The boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing biaryl structures. Additionally, it is employed in the development of sensors and probes due to its ability to interact with diols and other biomolecules. Its ethoxy group enhances solubility and reactivity in various organic solvents, facilitating its use in diverse chemical processes.