This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the preparation of various biaryl compounds, which are essential in the development of pharmaceuticals, agrochemicals, and materials science. Its unique structure, featuring both a boronic acid group and a formyl group, allows for versatile functionalization, making it valuable in designing complex molecules. Additionally, it is employed in the synthesis of fluorescent dyes and sensors due to its ability to interact with specific analytes. Its applications also extend to medicinal chemistry, where it is used to create potential drug candidates targeting diseases such as cancer and inflammation.