This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronate ester functional group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it finds application in materials science for the preparation of advanced organic materials, such as polymers and ligands for catalysis. Its stability and reactivity under mild conditions make it a versatile tool in modern synthetic chemistry.