This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for creating complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of active pharmaceutical ingredients. Additionally, it is utilized in material science for the synthesis of organic electronic materials, including polymers and small molecules for OLEDs and other optoelectronic devices. Its boronate ester group makes it a valuable building block for constructing carbon-carbon bonds in a controlled and efficient manner.