This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex molecules. Its boronate ester group enables efficient coupling with aryl or vinyl halides, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is utilized in the development of fluorescent dyes and organic electronic materials due to its ability to introduce specific functional groups into aromatic systems. Its stability and reactivity make it a preferred choice in medicinal chemistry for creating bioactive compounds and drug candidates.