This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. 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 useful in biochemical and analytical applications.