This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid ester, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in the pharmaceutical industry for synthesizing intermediates in drug development. Additionally, it is used in material science for creating advanced polymers and functional materials. The compound’s stability and reactivity make it a valuable reagent in research and industrial processes.