This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic ester group facilitates the formation of carbon-carbon bonds, enabling the synthesis of biaryl compounds, which are essential in drug development. Additionally, it is employed in material science for creating advanced polymers and functional materials. Its stability and reactivity make it a valuable tool in catalytic processes and ligand design.