This chemical is primarily utilized in the field of organic synthesis, particularly as a key intermediate in the production of advanced materials. Its unique structure makes it suitable for applications in the development of organic electronic devices, such as organic light-emitting diodes (OLEDs) and organic photovoltaics (OPVs). Additionally, it serves as a precursor in the synthesis of complex boron-containing compounds, which are often employed in catalysis and polymer chemistry. Its stability and reactivity also make it valuable in research settings for studying novel chemical reactions and mechanisms.