This compound is primarily used as an intermediate in organic synthesis, particularly in the preparation of more complex molecules. It is valuable in cross-coupling reactions, such as Suzuki-Miyaura coupling, where the boronate ester group facilitates the formation of carbon-carbon bonds. This makes it useful in the development of pharmaceuticals, agrochemicals, and advanced materials. Its bromomethyl group also allows for further functionalization, enabling the creation of diverse derivatives for research and industrial applications.