Used primarily in organic synthesis, this compound serves as a key intermediate in the development of pharmaceuticals and agrochemicals. Its boronate ester group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex molecules. It is particularly valuable in the synthesis of biologically active compounds, including potential drug candidates targeting various diseases. Additionally, its structural features make it useful in material science for creating advanced polymers and functional materials with tailored properties.