This chemical is primarily utilized in organic synthesis, particularly in the field of medicinal chemistry and drug development. It serves as a key intermediate in the preparation of biologically active compounds, especially those involving Suzuki-Miyaura cross-coupling reactions. The presence of the boronate ester group makes it valuable for creating complex molecular structures, often targeting specific biological pathways. Its application extends to the development of pharmaceuticals, including potential treatments for cancer, inflammation, and other diseases. Additionally, it is used in the synthesis of advanced materials and agrochemicals, where precise molecular design is critical for enhancing efficacy and reducing environmental impact.