This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex molecules. Its boronic ester group facilitates the formation of carbon-carbon bonds, 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 biologically relevant molecules, enabling applications in biochemical research and diagnostics. Its stability and reactivity under mild conditions make it a preferred choice in various industrial and academic settings.