This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of various pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in constructing complex molecular structures. Additionally, it finds application in the development of sensors and probes due to its ability to interact with specific biological targets. Its unique structure also contributes to research in medicinal chemistry, where it aids in the discovery of new drug candidates.