This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the preparation of complex organic molecules, especially in pharmaceutical research and development. Its boronate ester group enables efficient coupling with aryl or vinyl halides, making it valuable for constructing carbon-carbon bonds. This compound is often employed in the synthesis of bioactive compounds, including potential drug candidates, due to its stability and reactivity in controlled conditions. Additionally, it finds use in material science for creating advanced polymers and organic electronic materials.