This chemical 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 forming carbon-carbon bonds, which is essential in the development of pharmaceuticals, agrochemicals, and advanced materials. It is often employed in the synthesis of complex organic molecules, including drug candidates, due to its stability and reactivity under mild conditions. Additionally, it serves as a key building block in the preparation of boron-containing compounds, which are increasingly important in medicinal chemistry and material science.