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 bioactive compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it is used in material science for the preparation of advanced organic materials, such as polymers or small molecules with specific electronic properties. Its unique structure allows for precise modifications in molecular design, making it a versatile tool in both medicinal chemistry and materials engineering.