Used as a key reagent in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex biaryl compounds. Its boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable in pharmaceutical and materials research. The nitro and carboxyl groups enhance its reactivity and solubility, enabling precise modifications in target molecules. It is also employed in the development of sensors and probes for detecting biological molecules due to its ability to interact with diols and other functional groups. Additionally, it serves as a building block in the synthesis of advanced polymers and catalysts.