This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, as well as in materials science for creating advanced polymers and functional materials. Additionally, it serves as a key intermediate in the synthesis of agrochemicals and fine chemicals, where precise molecular structures are required.