This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of advanced materials, such as polymers and sensors, due to its ability to interact with diols and other functional groups. Its formyl group further allows for derivatization, making it versatile in designing target-specific compounds.