This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic ester intermediate. Its structure allows for efficient coupling with aryl halides, enabling the construction of complex biaryl systems, which are valuable in pharmaceuticals and material science. Additionally, it is employed in the development of novel drug candidates, where its cyclobutane moiety can contribute to the rigidity and stability of the molecule, enhancing binding affinity to biological targets. The compound is also explored in the synthesis of advanced materials, including polymers and organic electronic components, due to its ability to facilitate precise molecular assembly.