This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronate ester group facilitates the formation of carbon-carbon bonds, making it valuable in creating biologically active compounds. Additionally, it is employed in material science for synthesizing organic electronic materials and polymers. Its stability and reactivity under mild conditions make it a versatile reagent in various research and industrial applications.