This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. The compound's stability and reactivity allow for efficient carbon-carbon bond formation, enabling the synthesis of biologically active compounds. Additionally, it is employed in materials science for creating advanced polymers and organic electronic materials. Its role in these applications highlights its importance in facilitating precise and versatile chemical transformations.