This chemical 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 organic molecules, often in the development of pharmaceuticals, agrochemicals, and advanced materials. It is also employed in the preparation of biaryl compounds, which are essential in drug discovery and material science. Additionally, its structural properties make it suitable for use in polymer chemistry and as a building block in the synthesis of functionalized aromatic compounds.