This chemical is primarily utilized in organic synthesis as a versatile building block, particularly in the preparation of boron-containing compounds. It is often employed in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds, due to the presence of the boronate ester group. This makes it valuable in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it can serve as an intermediate in the development of bioactive molecules, where the boronate ester moiety plays a crucial role in targeting specific biological pathways. Its stability and reactivity under mild conditions make it a preferred choice in medicinal chemistry and drug discovery processes.