This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the development of pharmaceuticals, enabling the formation of carbon-carbon bonds. Its boronate ester group is highly effective in Suzuki-Miyaura coupling reactions, which are widely employed in the synthesis of complex organic molecules, including drug candidates. Additionally, it finds application in material science for the creation of advanced polymers and organic electronic materials. Its structural properties make it valuable in the design of molecules with specific electronic or biological activities.