This compound is widely used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It plays a key role in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in the development of complex organic molecules. Its boronate ester group makes it a valuable reagent for constructing biaryl structures, which are common in many active pharmaceutical ingredients. Additionally, it is utilized in the synthesis of novel materials and ligands for catalysis, contributing to advancements in material science and chemical manufacturing processes.