This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group acts as a key functional moiety, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the development of pharmaceuticals, where it aids in the synthesis of biologically active compounds. Additionally, it finds use in materials science for creating advanced polymers and organic electronic materials. Its stability and reactivity make it a valuable intermediate in various research and industrial applications.