This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. The boronate ester group enables efficient coupling with aryl halides, making it valuable in creating biaryl compounds. Its application extends to the development of drugs targeting various diseases, including cancer and inflammation. Additionally, it is utilized in material science for designing advanced organic electronic materials due to its ability to form stable conjugated systems.