Used as a key intermediate in the synthesis of pharmaceuticals, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in drug discovery and development. Commonly applied in creating bioactive molecules and functionalized aromatic compounds with enhanced metabolic stability due to the trifluoromethyl group. Also utilized in the preparation of fluorescent probes and sensors, where the hydroxy and boronic acid functionalities allow for selective detection of diols and saccharides.