This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceuticals and agrochemicals. It is also employed in the development of boron-containing compounds for use in materials science, including polymers and electronic materials. Additionally, it serves as a building block in medicinal chemistry for designing drug candidates with enhanced biological activity.