This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it serves as a boronic ester intermediate. Its structure allows for efficient coupling with aryl or vinyl halides, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. It is often employed in the development of pharmaceuticals, agrochemicals, and advanced materials due to its stability and reactivity under mild conditions. Additionally, it is used in the preparation of heterocyclic compounds, which are valuable in medicinal chemistry for designing drugs with specific biological activities. Its application extends to polymer chemistry, where it aids in the creation of functionalized polymers with tailored properties.