This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it is used in materials science for the development of advanced polymers and functional materials. Its stability and reactivity under mild conditions make it a preferred choice for researchers working on fine chemical synthesis.