This chemical is primarily used in organic synthesis as a key intermediate in the preparation of complex organic molecules. It is particularly valuable in cross-coupling reactions, such as the Suzuki-Miyaura reaction, where it serves as a boronic ester. The presence of the dioxaborolane group enhances its stability and reactivity, making it suitable for constructing carbon-carbon bonds in pharmaceutical and agrochemical research. Additionally, it is employed in the development of advanced materials, including polymers and liquid crystals, due to its ability to introduce functional groups into cyclic structures. Its application extends to medicinal chemistry, where it aids in the synthesis of bioactive compounds and drug candidates.