This compound is primarily used in organic synthesis as a versatile building block for the preparation of complex molecules. It is particularly valuable in cross-coupling reactions, such as Suzuki-Miyaura coupling, where it serves as a boronic ester reagent to form carbon-carbon bonds. Its stability and reactivity make it suitable for constructing spirocyclic structures, which are often found in pharmaceuticals and agrochemicals. Additionally, it can be employed in the synthesis of functional materials, including polymers and ligands for catalysis, due to its ability to introduce specific functional groups into target molecules. Its application extends to medicinal chemistry, where it aids in the development of drug candidates by enabling precise modifications to molecular frameworks.