This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a valuable intermediate in the preparation of complex molecules, especially in the synthesis of pharmaceuticals and agrochemicals. The boronate ester functional group in the compound makes it a key player in Suzuki-Miyaura coupling reactions, which are widely used to form carbon-carbon bonds. Its application extends to the development of novel drug candidates, where it aids in the construction of aromatic and heteroaromatic systems. Additionally, it is employed in material science for the creation of advanced polymers and organic electronic materials, contributing to innovations in technology and industry.