This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key reagent for forming carbon-carbon bonds. 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 employed in the development of sensors and probes due to its ability to interact with diols and other functional groups, facilitating the detection of specific biomolecules. Its stability and reactivity also make it a useful intermediate in the synthesis of complex organic molecules.