This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic ester intermediate. Its structure allows it to facilitate the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is utilized in the development of complex organic molecules due to its stability and reactivity under mild conditions. The compound is also employed in research for designing and synthesizing novel compounds with potential biological or industrial applications.