Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals, agrochemicals, and electronic materials. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds between aromatic compounds, enabling the construction of complex molecules. Additionally, it finds application in the development of fluorescent probes and sensors due to its ability to interact with specific biological targets. Its boronic acid group also makes it useful in carbohydrate recognition and binding, which is relevant in biochemical research and diagnostic applications. Furthermore, it plays a role in new drug research and development as part of target molecules for design and bioactivity testing.