This compound is primarily utilized 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 and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it is used in the preparation of advanced materials and polymers, where precise molecular architecture is required. Its stability and reactivity make it a versatile tool in medicinal chemistry and material science.