This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. It is also employed in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry for creating biologically active molecules. Additionally, it serves as a building block in material science for designing advanced organic materials with specific electronic or optical properties.