This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key reagent for forming carbon-carbon bonds. Its boronic acid group enables it to couple with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in the production of pharmaceuticals, agrochemicals, 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. Its stability and reactivity make it a versatile tool in medicinal chemistry for designing and synthesizing biologically active molecules.