This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronate ester group enables efficient coupling with aryl or vinyl halides, facilitating the creation of complex organic molecules. Additionally, it is utilized in the development of fluorescent probes and sensors due to its unique structural properties, making it valuable in biochemical and diagnostic research. Its stability and reactivity also make it suitable for use in polymer chemistry and material science applications.