This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester group acts as a key intermediate, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. It is often employed in the production of pharmaceuticals, agrochemicals, and advanced materials, where precise molecular construction is essential. Additionally, its naphthalene structure makes it suitable for applications in dye synthesis and as a building block in the development of organic electronic materials.