This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for creating complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in constructing biaryl structures. Additionally, it is employed in the development of advanced materials, such as organic semiconductors and liquid crystals, due to its ability to introduce functional groups into aromatic systems. Its stability and reactivity make it a preferred choice in medicinal chemistry for designing drug candidates targeting various diseases.