This compound is primarily utilized in organic synthesis and medicinal chemistry as a boronic acid derivative. It serves as a key intermediate in the preparation of various biologically active molecules, particularly in the development of pharmaceuticals. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds, which is essential in constructing complex organic compounds. Additionally, it is employed in the synthesis of enzyme inhibitors and receptor antagonists, contributing to drug discovery efforts targeting specific diseases. Its application also extends to materials science, where it is used in the development of advanced polymers and sensors.