This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic compounds, especially in the pharmaceutical industry, where it aids in the development of drug molecules. Additionally, it is utilized in the production of advanced materials, such as polymers and liquid crystals, which are essential for electronics and display technologies. Its boronic acid group allows for selective binding to diols, making it useful in biochemical applications, including sensor development and carbohydrate recognition. The presence of anhydride variations can influence its reactivity, making it adaptable for specific synthetic pathways.