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 molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. The tert-butyl carbamate protecting group ensures stability during reactions, allowing for selective modifications. It is also employed in the synthesis of heterocyclic compounds, which are crucial in creating biologically active molecules for medicinal chemistry research.