This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key reagent to form carbon-carbon bonds. Its boronic acid functional group enables it to couple with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the production of complex organic molecules, including pharmaceuticals and advanced materials. Additionally, it is employed in the development of sensors and molecular recognition systems due to its ability to interact with diols and other functional groups, making it useful in analytical chemistry and biochemistry applications.