This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. Its boronic ester group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures commonly found in active pharmaceutical ingredients. Additionally, it is utilized in material science for synthesizing advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable tool in medicinal chemistry for designing and optimizing drug candidates.