This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a boronic ester intermediate. Its structure allows for efficient coupling with aryl halides, enabling the formation of biaryl compounds, which are valuable in pharmaceuticals and material science. Additionally, it is used in the development of bioactive molecules and as a building block in medicinal chemistry for creating compounds with potential therapeutic applications. Its stability and reactivity make it a useful reagent in the synthesis of complex organic molecules.