This compound is primarily utilized in organic synthesis as a building block for the creation of more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid partner to form biaryl compounds, which are essential in pharmaceuticals and material science. Additionally, its amino and boronic acid functional groups make it a versatile intermediate in the development of sensors and diagnostic agents, especially for detecting sugars and other biologically relevant molecules. Its applications also extend to the field of medicinal chemistry, where it is used in the synthesis of potential drug candidates targeting various diseases.