This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. 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 also employed in the development of bioactive molecules and complex organic compounds due to its stability and reactivity under mild conditions. Additionally, it serves as a key intermediate in the synthesis of heterocyclic compounds, which are essential in drug discovery and material science applications.