This compound is primarily utilized in organic synthesis as a key intermediate. Its boronate ester functional group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. The furan ring in its structure further enhances its reactivity and versatility, allowing it to participate in various transformations to produce heterocyclic compounds. Additionally, it serves as a building block in the development of materials with potential applications in optoelectronics and polymer chemistry.