This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for creating complex organic molecules. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is utilized in the development of sensors and diagnostic agents due to its ability to bind selectively with specific biological targets. Its stability and reactivity also make it a preferred choice in research and industrial applications for constructing carbon-carbon bonds in various chemical processes.