This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional group makes it a valuable intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. It is often employed in the synthesis of biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it serves as a building block in material science for creating advanced polymers and organic electronic materials. Its stability and reactivity under mild conditions make it a preferred choice in modern synthetic chemistry.