This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex biaryl structures, which are essential in pharmaceuticals, agrochemicals, and materials science. It is also employed in the development of organic electronic materials, including light-emitting diodes (OLEDs) and semiconductors, due to its ability to facilitate the formation of conjugated systems. Additionally, it serves as a building block in medicinal chemistry for synthesizing drug candidates with potential therapeutic applications.