This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic acid reagent. It is valuable for constructing complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drugs and bioactive compounds. Its unique structure, featuring a formyl group and a benzo[d][1,3]dioxole moiety, makes it a versatile building block for synthesizing heterocyclic compounds and fine chemicals. Additionally, it is employed in material science for creating advanced polymers and functional materials with specific properties.