This compound is primarily utilized in organic synthesis as a key intermediate in the preparation of various pharmaceuticals and bioactive molecules. Its boronate ester group makes it a valuable reagent in Suzuki-Miyaura cross-coupling reactions, which are widely employed to construct carbon-carbon bonds in the synthesis of complex organic compounds. Additionally, it is used in the development of boron-containing drugs and materials, particularly in the field of medicinal chemistry, where boron plays a crucial role in drug design and targeting. Its stability and reactivity also make it suitable for use in the production of advanced materials and polymers.