This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group facilitates the coupling with aryl halides, making it valuable in producing biaryl compounds. Additionally, it is employed in the development of sensors and probes for detecting biological molecules due to its ability to interact with diols and other functional groups. Its dimethylaminoethoxy group enhances solubility and reactivity in various solvents, broadening its application scope in research and industrial processes.