This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient carbon-carbon bond formation, making it valuable in the synthesis of biaryl compounds. Additionally, it finds application in material science for creating advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile tool in medicinal chemistry for drug discovery and development.