This chemical is primarily utilized in organic synthesis as a versatile building block, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. It is often employed in the development of complex molecules, including active pharmaceutical ingredients (APIs), due to its stability and reactivity. Additionally, it serves as a key intermediate in the synthesis of heterocyclic compounds, which are essential in drug discovery and material science.