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 forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, enabling the introduction of aromatic or heteroaromatic structures into target molecules. Additionally, it finds use in material science for the synthesis of advanced polymers and organic electronic materials, where precise molecular architecture is required. Its stability and reactivity make it a preferred choice for researchers working on fine chemicals and specialty materials.