This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry. Its boronate ester group enables efficient coupling with aryl halides, making it valuable for producing biaryl compounds. These biaryl structures are often found in active pharmaceutical ingredients (APIs) and other biologically active molecules. Additionally, it is utilized in the development of materials for organic electronics, such as OLEDs, due to its ability to form conjugated systems. Its stability and reactivity make it a versatile reagent in various research and industrial applications.