This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. It serves as a boronic ester reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in pharmaceutical research and development, where it aids in the synthesis of drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it is utilized in material science for the preparation of advanced organic materials, including polymers and electronic components, due to its stability and reactivity in various chemical environments.