This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic ester intermediate. Its structure allows for efficient coupling with aryl halides, enabling the formation of biaryl compounds, which are essential in the development of pharmaceuticals, agrochemicals, and organic materials. Additionally, it is employed in the preparation of complex molecules for drug discovery and material science research, owing to its stability and reactivity in various catalytic processes.