This chemical is primarily used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It is often employed in cross-coupling reactions, such as Suzuki-Miyaura coupling, to form carbon-carbon bonds, which are crucial in constructing complex organic molecules. Its boronate ester group makes it highly reactive and selective in these reactions, enabling the synthesis of various biologically active compounds. Additionally, it finds application in the development of materials science, including the creation of advanced polymers and organic electronic materials.