This compound is widely used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing carbon-carbon bonds, enabling the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as a precursor in the development of materials for organic electronics, such as OLEDs and sensors, due to its ability to introduce functional groups into aromatic systems. Its stability and reactivity also make it a preferred choice in medicinal chemistry for creating bioactive compounds.