Used in organic synthesis as a key intermediate for the preparation of complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient cross-coupling reactions, such as Suzuki-Miyaura coupling, to form carbon-carbon bonds. This compound is valuable in the synthesis of cyclopentene derivatives, which are often found in bioactive compounds. Additionally, it serves as a building block in the creation of boron-containing materials for applications in medicinal chemistry and material science.