This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional group enables it to act as a key intermediate in forming carbon-carbon bonds, which is essential in the production of complex organic molecules. It is often employed in the pharmaceutical industry for the synthesis of drug candidates and bioactive compounds. Additionally, it finds applications in material science for the development of advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable reagent in research and industrial processes.