This compound is primarily utilized in organic synthesis as a key intermediate in the preparation of various pharmaceutical agents. Its boronate ester group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to construct carbon-carbon bonds in drug discovery and development. Additionally, it serves as a building block in the synthesis of complex molecules, particularly in the creation of bioactive compounds targeting specific diseases. Its stability and reactivity also make it useful in the development of boron-containing drugs, which are gaining attention for their potential therapeutic applications.