This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the preparation of various heterocyclic compounds, which are essential in the development of pharmaceuticals and agrochemicals. Its boronate ester group facilitates the formation of carbon-carbon bonds, making it valuable in the synthesis of complex molecules. Additionally, it is employed in the production of organic light-emitting diodes (OLEDs) and other advanced materials due to its ability to modify electronic properties. Its application extends to research and development in medicinal chemistry, where it aids in the creation of potential drug candidates with improved efficacy and selectivity.