This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the preparation of various bioactive molecules, particularly in the development of enzyme inhibitors and receptor modulators. Its boronic acid group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are widely used to construct complex organic frameworks. Additionally, it is employed in the design of sensors and probes for detecting biological molecules, owing to its ability to form reversible complexes with diols and other functional groups. Its nitro and hydroxyl groups further enhance its reactivity, making it a versatile building block in medicinal chemistry and material science.