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 development of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds. Additionally, it is employed in the synthesis of biologically active compounds, including potential drug candidates targeting various diseases. Its application extends to materials science, where it aids in the preparation of organic electronic materials and polymers.