This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. The boronate ester group in the molecule facilitates Suzuki-Miyaura coupling, a widely used method for forming carbon-carbon bonds. This reaction is essential in the development of complex organic molecules, including drug candidates and biologically active compounds. Additionally, its chloroacetamide moiety can be further functionalized, making it a versatile building block in medicinal chemistry and material science. Its application extends to the synthesis of boron-containing compounds, which are increasingly important in drug discovery and development due to their unique properties and potential therapeutic benefits.