This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura coupling. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. Additionally, it is employed in material science for the synthesis of advanced polymers and organic electronic materials, contributing to the creation of more efficient and durable components. Its application in medicinal chemistry also includes its role in the synthesis of biologically active compounds, enabling the exploration of new therapeutic agents.