This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester structure makes it a valuable reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, as well as in materials science for creating advanced polymers and functional materials. Additionally, its stability and reactivity make it suitable for use in catalytic processes and as an intermediate in the synthesis of fine chemicals.