Primarily used in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in pharmaceutical research. It plays a significant role in the development of boron-containing compounds, which are essential in medicinal chemistry for their potential therapeutic applications. Additionally, it is utilized in the creation of advanced materials, where its unique structure contributes to the design of novel polymers and coatings with specific properties. In catalysis, it acts as a precursor for catalysts that facilitate various chemical reactions, enhancing efficiency and selectivity. Its application extends to the field of agrochemicals, where it is involved in the synthesis of active ingredients for crop protection products.