This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It acts as a boronic ester intermediate, facilitating the formation of carbon-carbon bonds in the production of complex organic molecules. Its application is significant in pharmaceutical research and development, where it aids in the synthesis of drug candidates and bioactive compounds. Additionally, it is employed in material science for creating advanced polymers and organic electronic materials. The compound's stability and reactivity make it a valuable tool in precision chemical transformations.