Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate for creating complex organic molecules. Its boronate ester group facilitates the formation of carbon-carbon bonds, making it valuable in pharmaceutical research for developing new drugs. Additionally, it is employed in material science to synthesize advanced polymers and organic electronic materials. The compound's stability and reactivity under mild conditions make it a preferred choice in various catalytic processes.