This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a key intermediate. Its boronate ester group enables efficient coupling with aryl or vinyl halides, facilitating the construction of complex organic molecules. It is often employed in pharmaceutical research for the development of drug candidates, especially in the synthesis of compounds targeting neurological and oncological diseases. Additionally, it serves as a building block in the preparation of ligands and catalysts used in asymmetric synthesis. Its stability and reactivity make it a valuable tool in medicinal chemistry and material science.