This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester functional group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, its stability and reactivity under mild conditions make it suitable for use in medicinal chemistry and material science applications.