This chemical is primarily utilized as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its boronate ester functional group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to construct carbon-carbon bonds in complex organic molecules. This compound is also used in the preparation of biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it serves as a building block in materials science for creating advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile reagent in research and industrial applications.