This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group allows for efficient coupling with aryl halides, making it valuable in the production of biaryl compounds. Additionally, it may be employed in the development of sensors or probes due to its ability to interact with diols and other functional groups, facilitating applications in analytical chemistry and biochemical research.