This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, due to the presence of the boronate ester functional group. It serves as a key intermediate in the preparation of biaryl compounds, which are widely used in pharmaceuticals, agrochemicals, and materials science. The compound's structure allows for efficient coupling with aryl halides, enabling the construction of complex organic molecules. Additionally, it is employed in the development of novel drug candidates and advanced materials, where precise control over molecular architecture is essential. Its stability and reactivity make it a valuable tool in medicinal chemistry and polymer research.