This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to form carbon-carbon bonds efficiently. Additionally, it can be utilized in material science for the preparation of organic electronic materials, where precise molecular structures are critical for performance. Its stability and reactivity make it a versatile tool in various chemical transformations.