This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic ester reagent, enabling the formation of carbon-carbon bonds, which is crucial in the development of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it a valuable intermediate in the synthesis of complex organic molecules, including bioactive compounds and polymers. Additionally, it is often employed in the preparation of aryl derivatives, which are essential in the production of fine chemicals and specialty materials.