This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a boronic ester reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl halides and boronic acids or esters. This makes it valuable in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity under mild conditions make it a preferred choice in medicinal chemistry for designing and synthesizing drug candidates. Additionally, it is used in material science for creating polymers and other functional materials with specific electronic or structural properties.