This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for introducing selenophene rings into more complex organic molecules, which are valuable in the development of organic semiconductors and optoelectronic materials. Its boronate ester group facilitates efficient coupling with aryl halides, enabling the construction of conjugated systems. These systems are essential in the production of materials for organic light-emitting diodes (OLEDs), organic photovoltaics (OPVs), and other electronic devices. Additionally, its stability and reactivity make it a useful reagent in medicinal chemistry for designing novel drug candidates.