This chemical is primarily used in organic synthesis as a versatile building block, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. It is often employed in the synthesis of complex molecules, including drug candidates, due to its stability and reactivity. Additionally, it serves as an intermediate in the production of heterocyclic compounds, which are essential in medicinal chemistry for creating biologically active molecules.