This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction, which is essential for forming carbon-carbon bonds. It serves as a boronic ester intermediate, enabling the construction of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it a valuable reagent in medicinal chemistry for developing drug candidates. Additionally, it is employed in materials science for synthesizing organic electronic compounds, such as those used in OLEDs and other optoelectronic devices.