This chemical is primarily utilized in organic synthesis as a key intermediate for the preparation of boron-containing compounds. Its boronate ester functional group makes it valuable in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it serves as a precursor for developing bioconjugates and probes in biochemical research, particularly in labeling and imaging applications due to its ability to interact with biomolecules. Its stability and reactivity also make it suitable for use in materials science, such as in the development of organic electronic devices and polymers.