This compound is widely used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research. It is often employed in the development of drug candidates, where it helps introduce aromatic or heteroaromatic structures into target molecules. Additionally, it serves as a key building block in the synthesis of biologically active compounds, including potential treatments for neurological disorders and cancer. Its stability and reactivity make it a preferred choice for chemists working on advanced medicinal chemistry projects.