This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester functional group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it is used in material science for creating advanced organic materials with specific electronic or structural properties.