This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as an intermediate in the development of biologically active compounds, aiding in the creation of potential drug candidates. Its application extends to materials science, where it contributes to the production of advanced polymers and functional materials.