Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex organic molecules. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it serves as a key intermediate in the synthesis of heterocyclic compounds, which are crucial in materials science and agrochemical production. The compound's stability and reactivity under mild conditions make it a preferred choice in various catalytic processes.