This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional group makes it a valuable intermediate for constructing complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. It is also employed in the synthesis of advanced materials, including organic semiconductors and light-emitting diodes (OLEDs), due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it serves as a key building block in the preparation of biologically active compounds, aiding in drug discovery and development processes.